Pound Sterling Price News and Forecast: GBP hits fresh three-week highs past 1.3400

British Pound hits fresh three-week highs past 1.3400 as US Dollar pulls back 

The British Pound (GBP) appreciates against the US Dollar (USD) for the second consecutive day on Thursday, to hit fresh three–week highs right above 1.3400. The Greenback's pullback following the release of the Federal Reserve’s (Fed) minutes and rumours about the resumption of the US-Iran negotiations are keeping the pair buoyed.

The US and Iran traded attacks for the second consecutive day on Thursday, but risk aversion remains contained so far, with markets hopeful that the negotiations will continue. US President Donald Trump affirmed earlier on Thursday that Tehran “wants to make a deal so badly,” which suggests that the peace talks might resume soon. Read more...

GBP/USD Price Forecast: Holds a constructive bullish tone above 1.3400 as UK political risk eases

The GBP/USD pair trades in positive territory around 1.3405 during the early European trading hours on Thursday. Fading political uncertainty in the United Kingdom (UK) provides some support to the British Pound (GBP) against the US Dollar (USD).

Following the resignation of Keir Starmer in late June, UK political risk has eased significantly. The formal race to replace outgoing Prime Minister Keir Starmer begins on July 9. Frontrunner Andy Burnham is widely expected to become Prime Minister by July 20. Read more...