Pound Sterling Price News and Forecast: GBP trades flat against US Dollar

FXStreet Team FXStreet

Pound Sterling trades flat against US Dollar ahead of US ISM Manufacturing PMI

The Pound Sterling (GBP) flattens around 1.3230 against the US Dollar (USD), weakens against other currency pairs, during the European trading session on Monday. The GBP/USD pair consolidates while the US Dollar falls further amid firm expectations that the Federal Reserve (Fed) will cut interest rates in its monetary policy announcement next week.

During European trading hours, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, posts a fresh two-week low near 99.30. Read more...

GBP/USD Price Forecast: Softens below 100-day EMA amid bearish technical setup

The GBP/USD pair trades on a softer note around 1.3225 during the early European session on Monday. Rising bets of a Federal Reserve (Fed) rate cut in December might weigh on the Greenback and cap the downside for the major pair. Traders are now pricing in an 87% odds the Fed will cut by 25 basis points (bps) when it meets next week, according to the CME FedWatch tool.

UK Chancellor Rachel Reeves revealed the UK's Autumn Budget last week, which includes tax hikes and changes to business rates, benefits, and pensions. The positive sentiment stemming from increased fiscal clarity could lead to a modest relief rally for the Pound Sterling (GBP) against the US Dollar (USD) in the near term. Read more...

Author

FXStreet Team

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.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY approaches 158.00 as Japanese Yen resumes decline

USD/JPY is resuming its upside in the European session on Friday, refreshing two-week highs and nearing 158.00. The Japanese Yen extends losses, despite the Bank of Japan's (BoJ) expected rate hike to 1.25% and hawkish Governor Ueda's comments, as two surprise dissents against the rate hike weigh on it.

Gold keeps the bid tone in place; still below $4,400

Gold adds to the optimism seen in the second half of the week, trading with decent gains just below the $4,400 mark per troy ounce on Friday. The precious metal’s advance finds traction in declining crude oil prices and fresh selling pressure on the US Dollar.

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

BoJ Recap: Not as hawkish as expected

The BoJ raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks. Governor Kazuo Ueda said the policy phase had changed.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.