Pound Sterling Price News and Forecast: GBP/USD faces slight offers after the UK CPI data release

FXStreet Team FXStreet

Pound Sterling faces pressure as UK core, services inflation cools down

The Pound Sterling (GBP) faces slight selling pressure against its major currency peers after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for March. The British currency drops to near 1.3518 against the US Dollar (USD), but still holds little gains.

The Office for National Statistics (ONS) has reported that the headline inflation accelerated to 3.3% Year-on-Year (YoY), as expected, from 3% in February. The core CPI – which excludes volatile components of food, energy, alcohol, and tobacco – grew at a moderate pace of 3.1% YoY, while it was expected to have risen steadily by 3.2%. Read more...

Pound Sterling treads water above 1.3500 ahead UK CPI data

GBP/USD remains flat after registering modest losses in the previous trading day, hovering around 1.3510 during the Asian hours on Wednesday. The pair moves little as the US Dollar (USD) maintains its position after Bloomberg reported that US President Donald Trump will extend the ceasefire with Iran until negotiations between the two sides make progress.

Reports indicated that Vice President JD Vance canceled a planned visit to Islamabad for negotiations after Tehran informed Washington via Pakistan that it would not attend the meeting. Read more...

GBP/USD slips back as US data offsets Iran ceasefire risk-on boost

GBP/USD slid 0.15% on Tuesday, settling close to 1.3500 after a volatile session that traded a roughly 60-pip range. Price unwound twice during European and US trade with sharp downside candles, only to bounce back off the lows on each occasion before recovering modestly into the close.

The Iran standoff drove the early tape after President Trump extended his self-imposed deadline for direct talks, with Tehran declining to send a delegation to the proposed venue. The White House framed the move as a final goodwill gesture, though traders read it as another postponement in a sequence of shifting positions. Risk appetite firmed at first, weighing on the US Dollar, before stronger-than-expected March Retail Sales (+1.7% MoM versus +1.4% forecast) and notably hawkish testimony from Fed Chair-designate Kevin Warsh pulled flows back into the Greenback through the US session. 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.

GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

Gold remains below $4,100 despite receding Fed hike bets, weak USD

Gold opens with a bullish gap at the start of a new week amid receding Fed rate-hike expectations and a bearish US Dollar. Oil prices tumbled after Trump canceled an attack on Iran and said that a deal is near, easing inflation fears. This forces traders to dial back bets on extreme Fed tightening and drags the USD to a fresh low since June 17, which, in turn, is supporting the non-yielding bullion. However, the recent repeated failures to find acceptance above $4,100 warrant caution for XAU/USD bulls.

Gold: The $4,000 mark holds the downside for now

Gold faces renewed selling pressure, falling sharply toweard the $4,000 mark per troy ounce as the US Dollar regains momentum. Escalating US-Iran tensions are keeping inflation concerns and expectations of further Fed rate hikes alive, weighing further on the yellow metal.

Week ahead: US payrolls report and AI earnings to keep investors on edge

After the Fed decision, NFP report awaited for more rate hike clues. Employment also on the agenda in Canada and New Zealand. Chinese trade and Japanese wage data to be watched too. But Iran and AI headlines to remain in driver’s seat for risk sentiment.

Middle East War updates: Trump holds off Iran strikes on pledge Hormuz deal is close

Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week. Risk sentiment improves on Monday, undermining demand for the US Dollar Index and drag crude oil prices lower.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.