Sterling dips as dollar strengthens while traders await U.S. data

LONDON, June 26 (Reuters) – The pound dipped on Wednesday as the dollar strengthened while investors waited for the release of the Federal Reserve’s preferred gauge of inflation on Friday.

Sterling was last 0.2% lower at $1.2661, around where it has traded for the last two weeks.

The euro was down 0.1% against the pound at 84.37 pence after falling to a two-year low of 84.40 pence on June 14 after French President Emmanuel Macron’s decision to call a snap parliamentary election rocked Europe’s markets.