Pound Sterling Price News and Forecast: Breaks below 1.3400 as blowout NFP ignites US Dollar rally

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British Pound breaks below 1.3400 as blowout NFP ignites US Dollar rally

The Pound Sterling (GBP) falls below the 1.3400 figure on Friday, registering losses of 0.37% against the US Dollar (USD) after the latest Nonfarm Payrolls report in the US crushed estimates, backing the narrative that the economy may be close to full employment. Meanwhile, Iran backed Hezbollah’s decision about the ceasefire proposal by the US regarding Israel and Lebanon, which could stall negotiations between Tehran and Washington. Read More...

British Pound faces second straight weekly loss as tensions in the Middle East weigh ahead of US NFP

The GBP/USD pair holds modest gains near 1.3420 during the European trading hours on Friday. Despite the intraday rebound, the pair is set to register its second straight weekly loss as tensions in the Middle East weigh. Markets might turn cautious later in the day ahead of the key US employment report for May. The developments surrounding the US-Iran peace deal will also be closely watched. Read More...

British Pound Sterling leans on hikes its economy can't justify

Sterling is standing on a bet that gets harder to justify by the week. Markets still lean toward Bank of England (BoE) rate hikes this year, even as the economy beneath the Pound flashes contraction rather than the overheating that would normally warrant tighter policy. The Pound is holding up, but it is holding up on borrowed conviction, and the lender is the energy market. Read More...

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