During European trading, the British Pound increased against the US Dollar, trading above 1.2600 levels.
The GBP/USD currency increased in the European session following higher than expected inflation data from the U.K. In the UK, there are no major data releases today. In the US, Initial Jobless Claims (214k expected) and Fed Philadelphia Fed Manufacturing Index data for February (19.4 exp) will be released (13:30 GMT).