Pound Sterling Price News and Forecast: GBP/USD drops from yearly peak amid soft US Dollar

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GBP/USD Price Forecast: Drops from yearly peak amid soft US Dollar

The Pound Sterling registered minuscule losses against the Greenback, yet it remains close to two-year peak levels on Friday. The US Bureau of Economic Analysis revealed that inflation is about to hit the Fed’s 2% target. At the time of writing, the GBP/USD trades at 1.3403, down 0.08%. Read More...

Pound Sterling reclaims 1.3400 on soft US PCE inflation

The Pound Sterling (GBP) recovers sharply above the round-level resistance of 1.3400 against the US Dollar (USD) in Friday’s North American session. The GBP/USD pair gains strength after the release of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for August, which showed that price pressures grew at a slower-than expected pace. Read More...

GBP/USD retreats from its highest level since March 2022, slips below 1.3400 mark

The GBP/USD pair drifts lower during the Asian session on Friday and moves away from its highest levels since March 2022, around the 1.3435 region touched the previous day. Spot prices slide below the 1.3400 mark in the last hour amid a modest US Dollar (USD) uptick, though any meaningful corrective decline still seems elusive. Read More...

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GBP/USD advances as US Dollar remains subdued following US inflation data

GBP/USD rises for the second consecutive day, trading around 1.3400 during the Asian hours. The pair appreciates as the US Dollar holds losses following softer-than-expected US inflation data, fueling hopes that the US Federal Reserve might adopt a less hawkish monetary stance.

EUR/USD: Bulls remain cautious below 23.6% Fibo. and 1.1470 hurdle

The EUR/USD pair attracts some dip-buyers following the previous day's pullback from the 1.1460-1.1470 horizontal resistance, though it remains confined within a multi-week-old range. Spot prices trade around the 1.1435-1.1440 region during the Asian session on Wednesday, up for the second straight day amid modest US Dollar weakness.

Gold edges lower as elevated oil prices bolster Fed hike prospects and offset soft USD

Gold attracts some sellers after failing to find acceptance above the $4,100 mark the previous day, though it holds above the $4,000 psychological mark during the Asian session on Wednesday. Despite soft US Consumer Price Index data, investors remain worried about energy-driven inflation as escalating US-Iran tensions and the closure of the Strait of Hormuz remain supportive of elevated crude oil prices.

Bitcoin, Ethereum, and Ripple show tentative recovery as key technical levels hold

Bitcoin, Ethereum and Ripple trade with a mild positive bias on Wednesday as sentiment improves across the cryptocurrency market. BTC is testing its 50-day Exponential Moving Average, ETH has broken above a key resistance level at $1,800, while XRP has found support around a key level.

2% and nothing else: Why Warsh gave Congress three hours of Greenspan

The Federal Reserve Chair who wants the institution to say less spent Tuesday legally required to say more, on the one morning the data handed him something pleasant to say. June's Consumer Price Index fell 0.4% on the month, the steepest single-month decline since April 2020.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.