Pound Sterling Price News and Forecast: GBP/USD loses ground as the Dollar holds ground amid risk aversion
|GBP/USD edges lower below 1.3500 as uncertainty deepens ahead of August 1 tariff deadline
GBP/USD inches lower after registering more than 0.5% gains in the previous session, trading around 1.3480 during the Asian hours on Tuesday. The pair depreciates as the US Dollar (USD) remains steady as traders adopt caution due to prevailing uncertainty ahead of US President Donald Trump's August 1 tariff deadline.
US Commerce Secretary Howard Lutnick stated unequivocally in a televised interview, “That’s a hard deadline, so on August 1, the new tariff rates will come in. However, Lutnick also highlighted that trade discussions will not stop after the deadline, but they’re going to start paying the tariffs on August 1.” Read more...
GBP/USD steadies as US Dollar weakens
The British Pound (GBP) is staging a modest rebound against the US Dollar (USD) on Monday, with GBP/USD trading around the 1.3480 mark during the American trading session. The upside in Sterling comes as the Greenback weakens broadly, weighed down by softening US Treasury yields and lingering uncertainty surrounding upcoming trade negotiations and the Federal Reserve’s (Fed) policy path.
Meanwhile, UK interest rate expectations remain in flux following a mixed batch of macroeconomic data last week, keeping GBP bulls cautiously optimistic ahead of the Bank of England’s (BoE) August policy decision. Read more...
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