GBP/USD holds up relatively better than peers – Scotiabank

FXStreet Insights Team FXStreet

The Pound Sterling (GBP) is weaker on the session but it has held up a little better than its G10 peers, Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.

GBP is trading weaker on the day

"The UK has yet to draw the tariff ire of President Trump. The US runs a small trade surplus with the UK overall and the UK’s trade advantage lies in services, rather than goods. That does not mean that tariffs in some form are not coming but the economic hit may be relatively less severe. Final January UK manufacturing PMI was revised up 0.1 to 48.3."

"Sterling has been less affected by the weekend volatility and intraday chart patterns are leaning mildly bullish in early trade as the pound edges off the early low. Cable gains have been capped at 1.2325 so far intraday but a push through the low 1.23s should see spot rebound to1.2375/00 at least. Support is 1.2250."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD stays firm near 1.3350 amid easing Mideast tensions

GBP/USD builds on Friday's modest bounce from a three-week low and gains strong follow-through positive traction at the start of a new week on Monday. This marks the second straight day of gains, with the major trading near 1.3350 in European trading amid a pause in the Middle East conflict and a broadly weaker US Dollar. Traders brace for the Fed and BoE policy announcements later in the week.

EUR/USD holds gains near 1.1400 as USD slips on Iran diplomacy hopes

EUR/USD holds sizeable gains near the 1.1400 mark in the European session on Monday. The intraday strength is sponsored by a broadly weaker US Dollar, weighed down by renewed optimism over a diplomatic resolution to end a five-month-old US-Iran war.

Gold stands firm on US-Iran diplomacy hopes, reduced Fed hike bets; bulls lack conviction

Gold (XAU/USD) continues with its struggle to capitalize on a modest gap-up opening beyond the $4,100 mark through the early European session on Monday as bulls seem hesitant ahead of the crucial FOMC meeting this week. Heading into the key central bank event, reviving hopes for a diplomatic resolution to end a five-month-old US-Iran war led to a steep fall in crude oil prices.

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Australian Dollar outlook: Chances of another rally won’t be decided in Canberra, but in Washington

The Australian Dollar rode a rollercoaster in the first half of the year, hitting a four-year high and then correcting. The currency enters the second half with an outlook full of uncertainty due to renewed hostilities in the Middle East, which clouds the inflation outlook and interest rates.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.