Pound Sterling Price News and Forecast: GBP declines against US Dollar

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British Pound declines against US Dollar as US-Iran deal optimism fades

The British Pound is down 0.13% to near 1.3415 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair faces selling pressure as optimism towards the United States (US)-Iran deal fades, following comments from Iran’s Supreme Leader that near-weapons-grade uranium must stay in Iran.

The statement from Iran’s top leader is in contrast with Washington’s demand that Iran must surrender its uranium enrichment if it wants a deal. Read more...

GBP/USD recovers amid UK inflation data: Positive signals emerge

GBP/USD was trading at 1.3428 on Thursday, following a period of volatility after the release of UK inflation data, which came in weaker than expected despite geopolitical tensions over Iran and rising oil prices.

The UK Consumer Price Index (CPI) slowed to 2.8% in April, down from 3.3% in March, while the market had anticipated a reading of 3%. The market interpreted these figures as a signal that the Bank of England may not need to raise interest rates aggressively in the near term. This has reduced expectations of further tightening and weighed on the pound. Read more...

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FXStreet Team

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD stays offered near 1.3370

GBP/USD remains on the back foot, slipping back toward the 1.3370 zone on Tuesday. Cable has come under pressure soon after testing the 1.3400 neighbourhood as investors turned more cautious in response to renewed effervescence on the geopolitical front.

EUR/USD slips back to 1.1420, daily lows

EUR/USD now accelerates its daily retracement and revisits the 1.1420 region, or daily troughs. The pair’s decline comes amid the gain of upside momentum in the US Dollar amid renewed tensions in the Strait of Hormuz and a sell-off in Asian technology stocks.

Gold weakens toward $4,100

Gold adds to Monday’s decent pullback and trades close to the $4,100 mark per troy ounce on Tuesday. In the meantime, fresh geopolitical effervescence appear to have reignited inflation concerns, which in turn, limit any recovery attempt from the precious metal.

Bitcoin: BTC struggles despite renewed ETF inflows as Strategy sale impact fades

Bitcoin (BTC) falls below $64,000 on Tuesday, erasing part of the recent gains following six consecutive days of price rises. Institutional demand shows signs of recovery, with spot ETFs recording a second day of inflows through Monday after weeks of outflows.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance, arguing that the current world demands more flexibility.