Pound Sterling Price News and Forecast: GBP/USD faces pressure as UK Gilt yields decline

FXStreet Team FXStreet

GBP/USD edges lower to near 1.2200 as UK Gilt yields drop

GBP/USD edges lower after two days of gains, trading around 1.2220 during the Asian hours on Thursday. The Pound Sterling (GBP) receives downward pressure following lower-than-expected inflation data from the United Kingdom (UK) released on Wednesday.

The yield on the UK 10-year Gilt fell to 4.73%, retreating from multi-decade highs, after official data showed an unexpected drop in headline UK inflation, increasing expectations of rate cuts by the Bank of England (BoE). Read more...

GBP/USD Price Forecast: Edges up, stabilizes near 1.2250

The Pound Sterling posted modest gains on Wednesday after hit seesawing in a wide range of 1.2154 - 1.2306 during the day, yet stabilized at current exchange rates. At the time of writing, the GBP/USD trades at 1.2241, set to close below Tuesday’s high of 1.2249.

The GBP/USD downtrend remains in place, although it consolidated at around 1.2210 - 1.2240. During the session, buyers tested strong resistance at the April 22 low of 1.2299 before retreating beneath 1.2250. Should they hold to gains above the latter, they could challenge 1.2299 before targeting 1.2351, the January 2 swing low that turned resistance. Further upside is at 1.2400. 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.