Pound Sterling Price News and Forecast: GBP gains against its peers, except antipodeans

FXStreet Team FXStreet

Pound Sterling gains against USD despite US-Japan trade agreement confirmation

The Pound Sterling (GBP) gains against its peers, except antipodeans, on Wednesday. The British currency attracts bids even as United Kingdom (UK) fiscal risks have resurfaced, following the government borrowings report from the Office for National Statistics (ONS) on Tuesday.

The report showed that the administration raised the second-highest amount of funds since 1993 in order to mitigate the increase in debt costs, which accelerated due to higher inflation. Mounting UK borrowings pave the way for tax increases by the administration in its upcoming Autumn Statement. Read more...

GBP/USD Forecast: Pound Sterling looks to stretch higher on improving risk mood

GBP/USD stays in a consolidation phase above 1.3500 after posting gains on Monday and Tuesday. The improving risk sentiment and the technical outlook suggests that the pair could stretch higher in the near term.

The US Dollar (USD) remained under selling pressure on Tuesday and allowed GBP/USD to build on Monday's gains. The uncertainty regarding the United States' trade relations with major partners and the deepening feud between US President Donald Trump and Federal Reserve (Fed) Chairman Jerome Powell made it difficult for the USD to find demand. Read more...

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EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.