During European trading, the British Pound decreased against the US Dollar, trading below 1.2450 levels.
The currency pair is trading lower after Fed Chair Powell made cautious statements on inflation and monetary policy, following the Fed decision to keep rates unchanged at 4.5%. In the UK, Bank of England Consumer Credit data for December was released today (1.045B vs 0.950B exp). In the US, GDP figures (2.70% exp) and Initial Jobless Claims (224k exp) will be posted (13:30 GMT).