Pound Sterling Price News and Forecast: GBP/USD drops as BoE holds rates, hints uncertainty on future cuts

FXStreet Team FXStreet

GBP/USD drops as BoE holds rates, hints uncertainty on future cuts

The British Pound (GBP) depreciated against the US Dollar (USD) after the Bank of England (BoE) decided to keep rates unchanged and warned about interest rate cuts due to “a lot of economic uncertainty at the moment,” said BoE Governor Andrew Bailey. At the time of writing, GBP/USD is trading at 1.2964, down 0.29%. Read More...

Pound Sterling attracts bids after BoE leaves interest rates unchanged at 4.5%

The Pound Sterling (GBP) rebounds against its major peers in the early North American session on Thursday. The British currency bounces back after the Bank of England (BoE) keeps interest rates steady at 4.5%, as expected. Eight out of nine Monetary Policy Committee (MPC) members voted for leaving borrowing rates at their current levels, while one supported a 25 basis points (bps) interest rate reduction against two anticipated by market participants. Read More...

GBP/USD Price Forecast: Holds position above 1.3000 near five-month highs

The GBP/USD pair remains in positive territory for the fourth successive session, trading around 1.3010 during the Asian hours on Thursday. Technical analysis of the daily chart indicates a continued bullish bias, with the pair moving upwards within an ascending channel pattern. Read More...

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EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.