Pound Sterling Price News and Forecast: GBP/USD attracts some buyers at the start of a new week

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British Pound fills weekly bearish gap vs USD; upside seems capped amid UK political chaos

The GBP/USD pair climbs back to the 1.3235 region during the Asian session and fails the weekly bearish gap opening amid a modest US Dollar (USD) downtick, though the upside potential seems limited.

Mediators Qatar and Pakistan announced a formal 60-day roadmap aimed at securing a final US-Iran peace deal, which, in turn, keeps a lid on the safe-haven buck and prompts some intraday short-covering around the GBP/USD pair. However, geopolitical developments over the weekend, along with the US Federal Reserve's (Fed) hawkish tilt, could act as a tailwind for the Greenback. Read more...

British Pound declines to near 1.3200 as UK PM Starmer expected to resign

The GBP/USD pair faces some selling pressure near 1.3210 during the early Asian trading hours on Monday, pressured by UK political uncertainty. The British Pound (GBP) softens against the US Dollar (USD) after the reports that UK Prime Minister Sir Keir Starmer is expected to resign to make way for a new leader.

Bloomberg reported on Sunday that allies of Starmer expect him to set out a timetable for his departure as UK prime minister in the coming days, putting Britain on course for its seventh premier in a decade and paving the way for Andy Burnham to replace him. Read more...

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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.

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

Gold trades below $4,350; remains close to seven-week high

Gold is seen consolidating Friday's post-NFP rally and trading just below $4,350 at the start of a new week, close to its highest level since June 17. Meanwhile, weak US jobs data tempered Fed rate hike bets, which keeps the US Dollar on the defensive and acts as a tailwind for the non-yielding bullion. Meanwhile, the focus now shifts to this week's US inflation figures as traders await developments surrounding the Middle East crisis.

Week ahead: US CPI data, BoJ summary and RBA decision take the stage

US inflation data to guide Fed rate hike expectations. A hawkish BoJ summary of opinions could support the Yen. RBA could still sound hawkish amid sticky inflation. UK GDP and activity figures to shape sterling sentiment.

CFTC Report: FX repositioning dominates as commodities diverge

The week in one sentence: a historic Yen short unwind led to a broader recovery in FX positioning, while Gold strengthened with price confirmation, and renewed selling in WTI and Coffee reinforced commodity weakness. The Japanese Yen delivered the report's dominant move. Net positioning improved by nearly 118K contracts, the largest weekly increase since at least 2011.

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.