The GBP/USD exchange rate dropped to the lowest level since June 6th as the US dollar index (DXY) and crude oil prices jumped. The pair slipped to a low of 1.2382 ahead of the upcoming UK inflation numbers and Federal Reserve decision. UK inflation and Fed decision The GBP/USD pair retreated after the strong US inflation data. According to the Bureau of Labor Statistics (BLS), the headline consumer price index (CPI) rose from 3.2% in July to 3.7% in August. It was the second straight month that inflation rose. Economists believe that inflation could continue rising in the coming months since crude oil prices are ... (full story)