Pound Sterling Price News and Forecast: GBP/USD drops on risk-aversion, sellers eye 1.2600

FXStreet Team FXStreet

GBP/USD Price Forecast: Drops on risk-aversion, sellers eye 1.2600

The Pound Sterling tumbled against the US Dollar early during the North American session as traders digested the escalation of the Russia-Ukraine conflict, the result of the US Presidential Elections, and hot UK inflation data. The GBP/USD trades at 1.2624, down 0.21%. Read More...

Pound Sterling slumps against US Dollar as Fed dovish bets ease

The Pound Sterling (GBP) weakens against most of its peers on Thursday even though traders doubt whether the Bank of England (BoE) will cut interest rates again in the December meeting. Market speculation for BoE rate cuts next month diminished after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for October on Wednesday showed that price pressures accelerated faster than expected. Read More...

GBP/USD trades above 1.2650, upside potential seems limited due to cautious Fed

GBP/USD edges higher to near 1.2650 during the Asian trading hours on Thursday. This upside of the pair could be attributed to the softer US Dollar (USD). The US Dollar Index (DXY), which measures the value of the USD against its six major peers, holds ground near 106.50 at the time of writing. Read More...

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EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

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 defends bids as US-Iran war continues to fuel safe-haven flows

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar keeps the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.