Pound Sterling Price News and Forecast: GBP/USD strengthens to around 1.3435 in the early European session
|GBP/USD strengthens above 1.3400 as UK inflation beats forecasts
The GBP/USD pair gains ground to near 1.3435 during the early European session on Tuesday. The Pound Sterling (GBP) edges higher against the US Dollar (USD) as UK inflation rose more than expected in December. Markets might turn cautious later in the day ahead of a slew of US economic data.
The Cable receives some support from a hotter-than-expected UK Consumer Price Index (CPI) inflation report. The headline CPI rose 3.4% YoY in December, compared to an increase of 3.2% in November, the Office for National Statistics showed on Wednesday. This reading came in above the market consensus of 3.3%. The monthly CPI inflation climbed to 0.4% in December from a decline of 0.2% in November. Markets projected a rise of 0.4%. Read more...
GBP/USD remains confined in a range above 1.3400 as traders eye US PCE and GDP data
The GBP/USD pair extends its sideways consolidative price move for the second straight day on Thursday and oscillates in a range above the 1.3400 mark during the Asian session. Moreover, a mixed fundamental backdrop warrants some caution before placing directional bets as traders keenly await the crucial US macro data.
The US Personal Consumption Expenditure (PCE) Price Index is due for release later today. It will be accompanied by the final US Q3 GDP growth report, which should offer fresh cues about the US Federal Reserve's (Fed) future policy path. This, in turn, will play a key role in influencing the near-term US Dollar (USD) price dynamics and provide some meaningful impetus to the GBP/USD pair. Read more...
GBP/USD slips near 1.3430 as Trump eases Greenland rhetoric
GBP/USD turns negative on Wednesday following remarks by US President Donald Trump in Davos, who said that he would not use excessive force to get Greenland. At the time of writing, the pair trades at 1.3433, down 0.03%.
Market sentiment improved following Trump's comments in Davos. Despite insisting on negotiating with Denmark, he refrained from using the tariff word, which he used over the weekend when he imposed 10% duties on eight European countries, including Denmark. Read more...
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