Compared to the euro, the pound sterling looks more confident. After an unconvincing attempt to consolidate under 1.3200, the GBP/USD pair returned to the range, recovering all the losses incurred as a result of the strengthening of the US dollar at the beginning of the week.Hugh Pill, Chief Economist at the Bank of England, said that he is concerned about the possibility that inflation in the UK will be higher than expected and interest rates will have to be kept at a higher level than investors expect. Last week, Pill voted against a 0.25 percentage point rate cut by the Bank of England. Such statements support the British pound, but it is not enough for the pair to resume growth. The market will keep an eye on the data to be released later this month.