The Pound Sterling (GBP) corrects to near 1.2960 after failing to extend the rally above the key level of 1.3000 against the US Dollar (USD) in North American trading hours on Wednesday.

GBP/USD edges lower, trading around 1.2990 during Asian hours on Wednesday after posting gains in the previous two sessions.

The Pound Sterling dropped 0.20% against the Greenback during the North American session as traders await the Federal Reserve's monetary policy decision.

EUR/USD corrects to near 1.0900 in Wednesday’s New York session after posting a fresh five-month high near 1.0955 the previous day.

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, ticks up to 103.67 at the time of writing on Wednesday. The surge in the Greenback came on the back of a steep pop of over 5% in the USD

The Pound Sterling (GBP) trades with caution against its peers ahead of the United Kingdom (UK) labor market data for the three months ending January and the Bank of England’s (BoE) monetary policy decision, scheduled for Thursday.

The Pound Sterling (GBP) is dropping 0.20% against the Greenback during the North American session as traders await the Federal Reserve's (Fed) monetary policy decision.

GBP/USD edges lower, trading around 1.2990 during Asian hours on Wednesday after posting gains in the previous two sessions.