Pound Sterling Price News and Forecast: GBP/USD could climb further towards 1.3500 amid a weaker USD

FXStreet Team FXStreet

GBP/USD Price Forecast: Could climb further towards 1.3500 amid a weaker USD

The GBP/USD pair gains positive traction for the second successive day on Thursday and recovers further from its lowest level since early August, around the 1.3250-1.3245 region touched earlier this week. The US Dollar (USD) selling remains unabated and turns out to be a key factor acting as a tailwind for the currency pair, which largely shrugged off rather unimpressive UK macro releases.

The Office for National Statistics (ONS) reported that the British economy expanded by a lackluster 0.1% in August. This was in line with consensus estimates, though it was offset by a downward revision of the previous month's reading, which showed that the economy contracted by 0.1%. Meanwhile, the UK Industrial Production rose by 0.4% in August following a 0.4% fall in the previous month. Read more...

British Pound braces for further losses

The British pound remains under sustained pressure, driven by a weakening domestic economy and receding inflation concerns. Recent UK macroeconomic data indicate stagnation in the service sector and a continued decline in consumer spending.

At the same time, slowing wage growth is giving the Bank of England greater flexibility to adopt a more dovish stance. Market expectations now point to a high likelihood of a rate cut at one of the bank’s forthcoming meetings. Read more...

Author

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.

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.