The US dollar lacks momentum as the European trading assets are gaining ground today. Special attention should be paid to the GBP/USD pair. The cable ended last trading week in the negative zone, losing almost 300 pips. Today, the British currency broke the level of 1.3850 against its American counterpart. However, experts say that the pound's rise is limited as investors fear that the Brexit talks may get more tense and complicated. European Chief Negotiator Michel Barnier hinted that some controversial financial issues have not been settled yet.
This week, several meetings with ministers will be held where this issue will be discussed. It may influence the movement of the GBP/USD pair. Market participants will also pay attention to the inflation report, which will be published tomorrow. Analysts expect that its results will prove the efficiency of the Bank of England's decision to hike the rate. Besides, the retail sales report will be released in the United Kingdom on Friday. Currency strategists anticipate that this week the British national currency may gain solid ground against the US dollar.