Ella 
Sterling recovered after adjusting to around 1.3070 ahead of UK inflation data.
Fiery CPI data from the UK could put more pressure on the economic outlook.
The Bank of England raised interest rates for the second time in a row.
GBP/USD found some buying interest after adjusting to around 1.3070, as investors are turning their focus to UK consumer price index (CPI) data due at 06:00 Beijing time on Wednesday. GBP/USD found some support as investors hoped core inflation would remain high and the Bank of England (BoE) would be forced to continue aggressive tightening to bring inflation back to ideal levels.
Households will face the burden of higher borrowing costs and soaring inflation, although the BoE has little choice but to raise rates further. After big-ticket items, the burden of inflationary pressures will extend to housing. British business is concerned, arguing that “a burst of business optimism in the spring has faded under the weight of rising inflation and interest rates”.
