Pound Sterling Price News and Forecast: GBP/USD drops as UK GDP shrinks for second straight month

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Pound Sterling drops as UK GDP shrinks for second straight month

The Pound Sterling (GBP) faces selling pressure against its major peers on Friday following the release of the United Kingdom (UK) Gross Domestic Product (GDP) data for October. The GDP report showed that the economic growth contracted again by 0.1%, missing expectations of a 0.1% expansion. Read More...

GBP/USD steadies at fresh near-term highs

GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar (USD) into the low side across the board. Read More...

GBP/USD climbs above 1.34 as Fed cut and soft data weigh on US Dollar

The Pound Sterling (GBP) rallies during the North American session on Thursday, up over 0.68% after the Federal Reserve (Fed) delivered a 25-basis-point rate cut and a softer-than-expected jobs report, which weighed on the US Dollar (USD). At the time of writing, GBP/USD trades at 1.3417, its highest level in the last six weeks. Read More...

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GBP/USD flirts with two-week tops around 1.3270

GBP/USD makes a U-turn and adds to Monday’s uptick, advancing to the area of two-week highs near 1.3270 on Tuesday. Meanwhile, Cable’s better tone follows a loss of upside traction in the Greenback, always amid the sharp rally in USD/JPY.

EUR/USD stays offered, flirts with 1.1400

EUR/USD manages to reverse the early drop and now trades with marginal gains near 1.1420 on Tuesday. The pair’s recovery comes in response to some loss of momentum in the US Dollar.

Gold keeps the positive mood above $4,000

Following multi-month lows near $3,950, Gold now manages to regain some composure and reclaim the area beyond the key $4,000 yardstick per troy ounce on Wednesday. Still, any meaningful recovery appears limited as a broadly firmer US Dollar and rising US Treasury yields weigh on the yellow metal.

Ripple defends critical support, Stellar extends recovery

Ripple (XRP) trades around the key $1.00 psychological level, consolidating as the token awaits its next directional catalyst. Stellar (XLM) extends its recovery above $0.178 after posting modest gains at the start of this week.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen hits a 40-year low of 162.00 against the US Dollar, raising concerns about intervention or additional rate hikes by the Bank of Japan. BoJ may sell US Treasuries to buy back Yen, potentially pushing US bond yields higher and making Bitcoin less attractive to investors.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.