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Pound Sterling Price News and Forecast: GBP nosedives as Trump wins US presidential elections

FXStreet Team FXStreet

Pound Sterling nosedives as Trump wins US presidential elections

The Pound Sterling (GBP) plummets to near 1.2850 against the US Dollar (USD) in London trading hours on Wednesday. The GBP/USD pair faces an intense sell-off as investors rush to the so-called ‘Trump trades’, with Republican candidate Donald Trump winning the United States (US) presidential election over Democratic rival Kamala Harris.

According to the Associated Press, Trump has been elected as the 47th President of the US after he cleared the 270 seats hurdle after winning in the key battleground state of Wisconsin. Read more...

GBP/USD Forecast: Pound Sterling struggles to rebound as US election fuels USD rally

GBP/USD declined sharply early Wednesday as the US Dollar (USD) gathered strength on developments surrounding the US presidential election. The pair managed to stage a rebound in the European morning and was last seen trading near 1.2900.

Once news outlets started calling Georgia and North Carolina for Donald Trump, two battleground states Republicans lost in the previous election, the USD gathered bullish momentum. In the early European session, Pennsylvania, another swing state that was seen as Kamala Harris' last chance to turn the election around, went to Trump, all but officially confirming his victory. Read more...

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FXStreet

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 advaces beyond 1.3450 after BoE decision, US Q2 GDP

GBP/USD gains positive momentum on Thursday, surpassing 1.3450 and trading at fresh multi-week highs. The Bank of England decided to maintain the benchmark rate unchanged at 3.75%. The MPC voted 6-3 to keep rates on hold, with the 3 dissenters favoring a rate hike. US Q2 GDP missing expectations helped the pair advance, while renewed US Dollar weakness across the FX board pushed the pair further up ahead of the monthly close.

EUR/USD confortable around 1.1530, highest in six weeks

The EUR/USD pair trades around 1.1530 in the American session on Thursday, reaching fresh six-week highs. The US Dollar is in sell-off mode, with multiple factors weighing on the American currency. Not only did the Federal Reserve vote divided to keep rates on hold on Wednesday, creating doubts about a September hike, but US Q2 GDP missed expectations. A suspected JPY intervention adds pressure on the Greenback.

Gold recovers the $4,100 level as US Dollar weakens further

Gold trades just above $4,100 amid a US Dollar sell-off. The Greenback enjoyed some near-term demand following Wednesday's post-FOMC downfall, but was unable to retain its gains. The preliminary estimate of the US Q2 GDP showed the economy grew at an annual rate of 1.5%, missing the market's expectations of 2.1%.

Bank of Japan set to keep interest rates unchanged after suspected Yen intervention

Investors are turning their attention to the Bank of Japan’s monetary policy announcement on Friday, after the Japanese Yen staged a dramatic rebound during Thursday's American session. The move came amid growing speculation that Japanese authorities intervened in the foreign exchange market after USD/JPY tumbled from above 163.00 to below 158.00 within minutes.

Aave to sunset Sonic, Aptos, zkSync, Scroll reserves, affecting $98 million in supply

Aave is planning to sunset 75 low-activity reserves across its decentralized finance protocol as part of a broader effort to reduce operational, technical and economic risks across its network of deployments.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.

Pound Sterling Price News and Forecast: GBP nosedives as Trump wins US presidential elections

Pound Sterling nosedives as Trump wins US presidential elections

GBP/USD Forecast: Pound Sterling struggles to rebound as US election fuels USD rally

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GBP/USD advaces beyond 1.3450 after BoE decision, US Q2 GDP

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Gold recovers the $4,100 level as US Dollar weakens further

Bank of Japan set to keep interest rates unchanged after suspected Yen intervention

Aave to sunset Sonic, Aptos, zkSync, Scroll reserves, affecting $98 million in supply

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

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Pound Sterling nosedives as Trump wins US presidential elections

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