GBP/USD trades modestly higher on Wednesday as the US Dollar (USD) comes under mild pressure following the release of the latest US inflation figures. At the time of writing, GBP/USD trades around 1.3523, near its highest level since July 16. The headline Consumer Price Index (CPI) rose 0.1% in July after falling 0.4% in June, with the annual rate easing to 3.4% from 3.5%. Core CPI increased 0.2% MoM following a flat reading in June, while the yearly rate slowed to 2.5% from 2.6%. Attention now turns to preliminary UK second-quarter Gross Domestic Product (GDP) data and the US Producer Price Index (PPI), due on Thursday.