Pound Sterling Price News and Forecast: GBP/USD climbs on soft US data despite Warsh’s hawkish tilt

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British Pound climbs on soft US data despite Warsh’s hawkish tilt

The Pound Sterling (GBP) registers a 0.14% gain on Wednesday amid broad US Dollar (USD) strength and comments by the Federal Reserve (Fed) Chair Kevin Warsh, who reiterated that the central bank would not provide forward guidance, despite accepting that inflation remains too high. At the time of writing, the GBP/USD pair trades at 1.3277 after bouncing off daily lows of 1.3219. Read More...

British Pound decline against US Dollar, eyes on key US data

The British Pound (GBP) is down 0.22% to near 1.3234 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair trades lower as surging United States (US) Treasury Yields have strengthened the US Dollar (USD). Read More...

British Pound weakens below 1.3250 on UK political risks, BoE repricing

The GBP/USD pair trades in negative territory around 1.3245 during the early Asian trading hours on Wednesday. Traders await the UK political developments, focusing on potential leadership by Andy Burnham and adherence to existing fiscal rules. Bank of England (BoE) Governor Andrew Bailey is set to speak later in the day. On Thursday, all eyes will be on the US jobs data for June. Read More...

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AUD/USD defies gravity; focus is back to 0.7000

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Gold now regains some composure and approaches the $4,150 mark per troy ounce late on Monday. The precious metal’s vacillating price action comes in response to the persistent advance in the US Dollar in combination with the resurgence of the upside momentum in US Treasury yields across the curve.

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Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

The ECB would normally have a relatively straightforward answer to inflation running almost twice its target: raise interest rates. But these are not normal circumstances. This time, the bond market is already doing part of the tightening for it, leaving the ECB facing an increasingly difficult dilemma.