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GBP/USD struggled to capitalize on the overnight modest recovery gains from a one-year low.

Reduced BoE rate hike bets, mostly disappointing UK macro data capped gains for the GBP.

An uptick in the US bond yields, hawkish Fed expectations acted as a tailwind for the buck.

Investors, however, preferred to wait on the sidelines ahead of the US consumer inflation.

The GBP/USD pair held on to its modest intraday gains near the 1.3220-25 region and had a rather muted reaction to the UK macro data dump.

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