The British pound strengthened following the release of data indicating a faster rise in UK inflation. Despite this, the pound struggled to maintain momentum, retreating from an initial attempt to surpass the $1.27 mark for the first time in four sessions. Meanwhile, the US dollar remained firm in European morning trade, bolstered by safe-haven demand and rising US interest rates. As of the latest updates, the dollar was approaching the JPY 156 level, with options set to expire today. In contrast, the euro held steady around 1.05, while other currencies such as the Japanese yen and Canadian dollar faced downward pressure due to various economic factors, including a weaker trade balance in Japan and fluctuating oil prices in Canada.