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.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Week ahead: US CPI, France’s budget crisis and Q3 earnings to set the market tone

The US dollar held relatively strong this week, despite the disappointing US jobs report on October 2, which further decreased the probability of a back-to-back rate hike by the Fed at the upcoming gathering on October 28.

CFTC Report: Euro and Aussie shorts expand amid diverging signals

The week in one sentence: Euro and Australian Dollar shorts deepened in the week to October 6, while Yen longs rebuilt. In addition, Coffee buying continued, and Gold exposure remained elevated despite another price decline. Speculators turned more negative on the Euro, increasing the net exposure to around 99.3K contracts.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?