Pound Sterling Price News and Forecast: GBP/USD attracts buyers for the second consecutive day

FXStreet Team FXStreet

GBP/USD Price Forecast: Sticks to strong gains near multi-month top, above mid-1.3000s

The GBP/USD pair gains strong follow-through positive traction for the second successive day on Thursday and advances to its highest level since October 2024 during the Asian session. Spot prices currently trade just above mid-1.3000s, up 0.40% for the day, and seem poised to climb further amid a bearish US Dollar (USD).

The USD Index (DXY), which tracks the Greenback against a basket of currencies, dives to a fresh year-to-day low in reaction to US President Donald Trump's trade tariffs, which lifts bets that the Federal Reserve (Fed) will resume its rate-cutting cycle soon. This, along with the anti-risk flow, triggers a steep decline in the US Treasury bond yields and further undermines the buck. Read more...

GBP/USD rises to test new highs, absorbs Trump tariffs in stride

GBP/USD stepped into fresh bids at six-month highs on Wednesday after the Trump administration unveiled tariffs that overall came in better than many investors had feared based on President Donald Trump’s cavalcade of tariff threats since taking up residence in the White House 72 days ago. The exact details of the tariff proposals remain complex, but US consumers can expect to pay a flat 10% tariff on all imports into the US, alongside an additional 25% tariff on all automobiles and car parts, and varied “reciprocal” tariffs charged at different levels on a per-country basis. Donald Trump also took the opportunity to remind the world that he still intends to issue even further tariff packages on things like copper, microchips, and other basic imported consumer goods that underpin the entire US economy.

With tariffs set to jack up consumer prices in the coming months, and with a lack of a clear workaround for consumer markets to obtain foreign goods without paying steep import taxes, inflation pressures are likely to rise in the near-term and stay high for much longer than anybody wants. As noted by Federal Reserve (Fed) policymakers, uncertainty around the Trump administration’s trade policies will likely keep interest rates higher for even longer than previously expected. Read more...

GBP/USD climbs past 1.2950 as traders brace for Trump’s tariff announcement

The Pound Sterling (GBP) advances early during the North American session against the US Dollar (USD) as traders await United States (US) President Donald Trump's tariff announcement, which could potentially spur a global economic slowdown. At the time of writing, GBP/USD trades at 1.2950, up 0.22%.

At 20:00 GMT, Donald Trump is expected to announce the imposition of reciprocal tariffs on trading partners in the White House Rose Garden. Although the percentage of duties applied to US trade partners is unknown, The Washington Post mentioned that Trump’s aides were considering a plan of approximately 20% from nearly every country. Read more...

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AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.