Pound Sterling Price News and Forecast: GBP/USD edges lower after China may suspend 125% tariff on US imports

FXStreet Team FXStreet

GBP/USD breaks below 1.3300 as US Dollar appreciates on a potential US-China trade deal

GBP/USD is retracing its recent gains, hovering around 1.3290 during Friday’s Asian session. The pullback comes as the US Dollar (USD) strengthens, bolstered by a Bloomberg report suggesting China may suspend its 125% tariff on select US imports, including medical equipment, ethane, and aircraft leasing.

Sources familiar with the matter noted that officials are particularly evaluating a waiver on tariffs for plane leases. China's Ministry of Finance and the General Administration of Customs have yet to comment. Further supporting the Greenback is optimism surrounding US trade negotiations. Reuters reports progress in preliminary talks with key Asian allies, including South Korea and Japan. Read more...

GBP/USD weakens to near 1.3300 ahead of UK Retail Sales release

The GBP/USD pair attracts some sellers to around 1.3310 during the early Asian session on Friday, pressured by the renewed US Dollar (USD) demand. The UK Retail Sales data for March will be the highlight later on Friday.

The Greenback edges higher amid the optimism about a US trade deal announcement, which acts as a headwind for the major pair for the time being. UK Finance Minister Rachel Reeves said on Thursday she was confident Britain could reach a trade deal with the US. Read more...

GBP/USD rebounds past 1.3300 as US-China tensions rattle US Dollar

The Pound Sterling recovered some ground versus the US Dollar on Thursday as market participants grew pessimistic about de-escalating the US-China trade war. Beijing is pressuring Washington to eliminate tariffs and has denied talks. At the time of writing, the GBP/USD trades above 1.3300 and gains 0.55%.

Price action remains dominated by the Greenback, which tumbled 0.32% as depicted by the US Dollar Index (DXY), which tracks the buck’s performance against a basket of peers. The DXY is at 99.45 after hitting a daily peak of 99.84. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.