Pound Sterling Price News and Forecast: GBP/USD gains traction to around 1.3195 on Tuesday

FXStreet Team FXStreet

GBP/USD jumps to near 1.3200 ahead of UK employment, US CPI releases

The GBP/USD pair climbs to near 1.3195 during the early European session on Tuesday. The Pound Sterling (GBP) edges higher against the Greenback due to positive developments surrounding the US and the UK trade agreement last week. The UK employment and US inflation reports will be the highlights later on Tuesday.

US President Donald Trump last week said that he will continue to impose a new 10% tariff on imports of most British goods but will reduce higher tariffs on imports of British cars, steel and aluminium. This positive developments surrounding the US-UK trade deal lift the Cable. Read more...

GBP/USD jumps to near 1.3200 ahead of UK employment, US CPI releases

GBP/USD falls back as tariff cuts bolster market sentiment

GBP/USD fell on Monday, tumbling a little over one percent and pushing the pair back down below the 1.3200 handle after a broad-based recovery in Greenback bidding. The United States (US) and China mutually agreed to temporarily suspend steep triple-digit tariffs during preliminary trade talks over the weekend, and markets have some room to breathe before the US’s bizarre “reciprocal” tariff schedule is set to come back into effect in 90 days.

Traders will be hitting the ground running on Tuesday: a fresh batch of employment figures is due from the UK, followed by a key batch of US Consumer Price Index (CPI) inflation data due during the upcoming American market session. UK Claimant Count Change is expected to have ticked higher in April, forecast to rise to 22.3K versus March’s 18.7K print. The ILO Unemployment Rate is also expected to tick higher to 4.5% for the three months ending in March, and Average Hourly Earnings are expected to decline slightly. Read more...

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