Pound Sterling Price News and Forecast: GBP/USD declines as traders pare Fed large rate cut bets

FXStreet Team FXStreet

Pound Sterling declines as traders pare Fed large rate cut bets

The Pound Sterling (GBP) extends its two-day losing spree and posts a fresh intraday low below 1.3150 against the US Dollar (USD) in Friday’s North American session. The GBP/USD pair fails to gain ground as the US Dollar rises sharply after the release of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for July, which came in slower than expected. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, jumps above 101.50. Read More...

GBP/USD Price Forecast: Extends losing streak, slides below 1.3150

The GBP/USD extends its losing streak to three days yet has bounced off daily/weekly lows of 1.3129 and exchanges hands at 1.3149, down a modest 0.14%. Data from the United States (US) spurred a leg-down in the currency pair as the Fed’s preferred gauge for inflation came as expected, hinting that the US Federal Reserve could cut rates at the upcoming September meeting. Read More...

GBP/USD falls to near 1.3150 ahead of US PCE data

GBP/USD loses ground for the third successive session, trading around 1.3160 during the Asian hours on Friday. This downside could be attributed to the improved US Dollar (USD) following stronger-than-expected economic data released on Thursday. Investors await July’s US Personal Consumption Expenditure (PCE) Price Index scheduled to be released later in the North American Session. Read More...

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EUR/USD struggles to hold above 1.1800 as USD stabilizes

EUR/USD loses its recovery momentum and retreats below 1.1800 in the second half of the day on Tuesday. The US Dollar finds a foothold after staying under pressure in the early European session, limiting the pair's upside in the near term.

GBP/USD pares gains below 1.3700 as mood turns cautious

GBP/USD enters a consolidation phase and holds steady near 1.3650 after rising above 1.3700 to start the European session. The cautious market mood seems to be making it difficult for Pound Sterling to outperform the US Dollar, while investors refrain from taking large positions ahead of the Bank of England's policy meeting later in the week.

Gold gathers recovery momentum, climbs above $4,900

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