Pound Sterling Price News and Forecast: GBP/USD has reached 1.3724, a fresh high since January 2022

FXStreet Team FXStreet

GBP/USD moves above 1.3700, marks fresh multi-year highs

GBP/USD extends its winning streak for the fourth successive session, trading around 1.3710 during the Asian hours on Thursday. The pair has marked 1.3724, a fresh high since January 2022, which was recorded on Thursday. The risk-sensitive GBP/USD pair receives support from the improved risk appetite, driven by a fragile US-brokered Israel-Iran ceasefire.

US President Donald Trump noted that the United States (US) and Iran would hold a meeting next week but questioned the need for a diplomatic solution on Iran's nuclear program, citing the damage that American bombing had done to key sites, per Bloomberg. Read more...

GBP/USD extends rally, clips fresh multi-year highs

GBP/USD gained more ground as the US Dollar waffles across the board, extending into a third straight day of firm gains and clipping its highest bids in four and a half years. Several central bank policymakers from both the Bank of England (BoE) and the Federal Reserve (Fed) made appearances through the first half of the week, and the trend is expected to continue through the remainder of it.

Fed Chair Jerome Powell wrapped up his two-day stretch of testimony before congressional and Senate financial committees on Wednesday, sticking close to the familiar Fed script and reiterating multiple times the Fed’s wait-and-see stance. The Fed has laid the broad unease about economic conditions at the Trump administration’s feet, and is avoiding making any adjustments to interest rates until the full effects of Donald Trump’s whiplash tariff strategy can be observed. Read more...

GBP/USD holds above 1.3600 as ceasefire lifts mood, BoE turns dovish

The Pound Sterling (GBP) extends its gains to three straight days during the week, amid an upbeat market mood triggered by the ceasefire of the Israel-Iran conflict. Nevertheless, the truce remains fragile after both parties exchanged blows close to or after the deadline proposed by Washington. GBP/USD trades above 1.3600 after falling below it earlier, up 0.05%.

Wednesday marks the second and latest appearance of Fed Chair Jerome Powell's semi-annual testimony at the US Congress. He is expected to deliver the same message of a wait-and-see mode at the central bank, as they assess the possible impact of tariffs on inflation. He stated that tariffs one-impact on inflation, but he wants to approach it carefully when inflation is not back at 2%. 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.