Pound Sterling Price News and Forecast: GBP/USD faces challenges as the US Dollar appreciates

FXStreet Team FXStreet

GBP/USD depreciates to near 1.2950 due to market caution ahead of US presidential election

GBP/USD extends its losses for the second successive day, trading around 1.2950 during the Asian session on Thursday. This downside of the pair could be linked to the solid US Dollar (USD) as a market caution persists amid uncertainty surrounding the upcoming US presidential election. Read more...

GBP/USD weakens below 1.3000 as traders brace for US PCE data

The GBP/USD pair extends the decline to around 1.2955 during the early Asian session on Thursday. The Pound Sterling (GBP) edges lower after the UK budget announcement. The attention will shift to the US Personal Consumption Expenditures (PCE) - Price Index data later on Thursday. Read more...

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FXStreet

EUR/USD remains on the back foot around 1.1700

EUR/USD is coming under heavy selling pressure, hovering around the 1.1700 region in the latter part of the NA session on Monday. The pair’s severe retracement comes as the US Dollar stages a marked bounce on the back of the prevailing flight to safety atmosphere, as investors react to the escalating conflict in the Middle East.

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.