Pound Sterling Price News and Forecast: GBP/USD climbs to 4-week high, buyers target 1.2900

FXStreet Team FXStreet

GBP/USD Price Analysis: Climbs to 4-week high, buyers target 1.2900

The Pound Sterling begins the week on a higher note and posted gains of more than 0.20%, as the Greenback continued to edge lower, amid increasing expectations that the Federal Reserve could cut borrowing costs in September. A busy week in the US docket will feature Fed Chair Jerome Powell's speeches at the US Congress, while inflation data on Wednesday will lay the path for the upcoming Fed decision. The GBP/USD trades at 1.2844 at around four-week highs. Read More...

Pound Sterling gains as UK Labour Party gains majority, Fed rate-cut bets rise

The Pound Sterling (GBP) outperforms its major peers in Monday’s American session. The near-term outlook of the British currency strengthens as Keir Starmer-led Labour Party gained an outright majority against Rishi Sunak-led Conservative Party in the United Kingdom’s (UK) parliamentary elections. The victory of the Labour Party with an absolute majority has brought political stability to the economy, which has resulted in a sheer strength in UK financial markets. Read More...

GBP/USD loses traction near 1.2800 amid modest recovery of US Dollar

The GBP/USD pair trades on a softer note near 1.2805, snapping the seven-day winning streak during the early Asian session on Monday. The recovery of the Greenback drags the major pair lower. However, the downside for the pair might be limited amid the rising bet that the Federal Reserve (Fed) will cut the interest rate in the third quarter. Read More...

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