Pound Sterling Price News and Forecast: GBP/USD gains ground as the US Dollar remains under pressure

FXStreet Team FXStreet

GBP/USD edges higher to near 1.3300 ahead of Q1 GDP data from UK

GBP/USD is rebounding from recent losses, trading near 1.3280 during the Asian session on Thursday. The pair is supported by a softer US Dollar (USD), as investors weigh ongoing trade-related uncertainties despite a slight easing in tensions. Market focus now shifts to the release of US Retail Sales and Producer Price Index (PPI) data later in the day.

Speculation is building that Washington may prefer a weaker dollar to bolster its trade position. The Trump administration has argued that a strong Greenback, relative to weaker regional currencies, disadvantages US exporters. Read more...

GBP/USD contracts into near-term midrange ahead of key UK and US data

GBP/USD pared recent gains on Wednesday, trimming back to the low side of the 1.3300 handle and falling back into a choppy near-term consolidation phase as investors buckle down for Thursday’s double feature of key data prints from both the United Kingdom (UK) and the United States (US).

First up on Thursday will be UK Gross Domestic Product (GDP) figures for the first quarter. UK Q1 GDP is expected to give a mixed print, with QoQ growth forecast to tick up, but annualized GDP to fall back slightly as a slump in domestic economic activity falls to the tail end of the curve. Q1 GDP is expected to rise to 0.6% QoQ from 0.1%, while Q1 GDP is forecast to ease to 1.2% YoY from 2024 Q4’s 1.5%. Read more...

GBP/USD slips modestly from weekly high as traders await UK GDP

The Pound Sterling (GBP) erases some of its earlier gains on Wednesday after reaching a weekly high of 1.3359, and edges down 0.03% amid a lack of catalysts as traders brace for the release of GDP figures for the United Kingdom (UK). At the time of writing, GBP/USD trades at 1.3293.

The Greenback has trimmed its gains from Monday, as depicted by the US Dollar Index (DXY). The DXY, which tracks the performance of the US Dollar (USD) against a basket of six currencies, rose sharply after news of the de-escalation of the China-US trade war. Nevertheless, as market participants had already factored the news into their expectations, the DXY fell by 0.15% to 100.77. 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.