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                            Traders are sitting on their hands in front of a crucial US CPI inflation announcement. Indices have slipped slightly as disappointing US tech Q2 results weigh on Wall Street.
                        
                        
                    
                            In his bi-annual congressional testimony, Fed Chair Powell cut a hawkish figure. With the prospect of rates higher for longer, yields and the USD have soared.
                        
                        
                    
                            Headline UK CPI remaining above 10% will force the Bank of England to hike again in May. This is once more driving support for GBP on a cautious day for majors.
                        
                        
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