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

FXStreet Team FXStreet

Pound Sterling gains against US Dollar as Trump's tariff agenda seems less fearful

The Pound Sterling (GBP) gains to near 1.2500 against the US Dollar in Wednesday’s European session. The GBP/USD pair advances as the US Dollar gives up its initial weekly gains as it loses risk-premium after United States (US) President Donald Trump postponed tariffs on Canada and Mexico.

Market participants have interpreted this scenario as President Trump’s negotiation tactic to close better deals with his major trading partners. Trump called for an immediate suspension of 25% tariff orders on his North American peers after they agreed to cooperate on criminal enforcement. Read more...

GBP/USD Forecast: Pound Sterling could face next hurdle at 1.2530

After posting gains for two consecutive days, GBP/USD continues to stretch higher and trades at a new weekly high above 1.2500 on Wednesday. The technical outlook highlights a buildup of bullish momentum as market focus shifts to key macroeconomic data releases from the US.

The US Dollar (USD) weakened against its major rivals on Tuesday as the recovery seen in Wall Street's main indexes pointed to an improving risk mood. Moreover, the US Bureau of Labor Statistics announced that JOLTS Job Openings declined to 7.6 million in December, falling short of the market expectation of 8 million and putting additional weight on the USD's shoulders. Read more...

Author

FXStreet Team

FXStreet

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.