Pound Sterling Price News and Forecast: GBP/USD climbs to over a one-month peak

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GBP/USD Weekly Forecast: Pound Sterling looks to 1.3000 as Jackson Hole Symposium looms

The Pound Sterling (GBP) sustained the rebound and hit a two-week high against US Dollar (USD), driving the GBP/USD pair to the 1.2900 mark amid a data-dominated week.

GBP/USD rebounded strongly this week, helped by the return of risk flows and divergent monetary policy outlooks between the US Federal Reserve (Fed) and the Bank of England (BoE). Read more...

GBP/USD touches one-month peak around mid-1.2900s, seems poised to climb further

The GBP/USD pair builds on last week's breakout momentum and climbs to over a one-month peak, around mid-1.2900s during the Asian session on Monday. The strong move up comes on the back of the recent solid bounce from the vicinity of a technically significant 200-day Simple Moving Average (SMA) and could be seen as a fresh trigger for bullish traders.

The British Pound (GBP) continues to draw support from last week's relatively stronger UK macro data, which pointed to a still resilient economy and might have dashed hopes for another interest rate cut by the Bank of England (BoE) in September. The US Dollar (USD), on the other hand, languishes near its lowest level since January touched earlier this month amid dovish Federal Reserve (Fed) expectations and turns out to be another factor acting as a tailwind for the GBP/USD pair. Read more...

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AUD/USD remains below 0.7000 as focus shifts to FOMC Minutes

AUD/USD struggles to capitalize on its three-day-old recovery move from 0.6900, or a three-month low, and trades with a negative bias during Wednesday's Asian session. Amid geopolitical uncertainty, the US Dollar attracts some dip-buyers after a fresh leg up in US bond yields, keeping the currency pair below 0.7000. However, RBA rate-hike bets support the Aussie as USD bulls await FOMC Minutes.

USD/JPY eyes 200-SMA breakout above 158.50 ahead of FOMC Minutes

USD/JPY climbs to a one-and-a-half-week high during the Asian session on Wednesday, with bulls now awaiting a move beyond the 200-day SMA hurdle near mid-158.00s before positioning for further gains ahead of FOMC Minutes. Meanwhile, a fresh leg up in US bond yields revives US Dollar demand amid geopolitical uncertainties. Moreover, concerns about Japan's fiscal policy weigh on the Japanese Yen, supporting the pair.

Gold extends range play; holds above $4,150 ahead of FOMC Minutes

Gold edges lower during the Asian session on Wednesday, stalling the previous day's goodish bounce from the $4,100 neighborhood, or a two-month low. The safe-haven US Dollar attracts some dip-buyers following this week’s pullback from the YTD high amid geopolitical uncertainties. This, along with a fresh leg up in US bond yields, caps non-yielding bullion, which remains confined within a one-week-old range ahead of FOMC Minutes.

ZEC expands institutional momentum as Winklevoss files for Zcash ETF

Winklevoss Asset Services, co-owned by crypto exchange Gemini founders Cameron and Tyler Winklevoss, filed a Form S-1 registration statement with the US Securities and Exchange Commission (SEC) on Tuesday for the Winklevoss Zcash (ZEC) ETF. The filing proposes a fund that would hold ZEC and seek to track its price.

RBI looks set to step up Repo Rate by 25 bps to 5.5%

The Reserve Bank of India is set to announce its bi-monthly monetary policy decision on Wednesday at 10:00 AM IST, in a meeting where the central bank is expected to initiate an interest rate hike cycle after maintaining a status-quo so far this calendar year. According to the market consensus, the RBI will hike its key Repo Rate by 25 basis points to 5.5% from 5.25%.

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.