Pound Sterling Price News and Forecast: GBP/USD hits three-month high as weak US sales deepen USD slide

FXStreet Team FXStreet

British Pound hits three-month high as weak US sales deepen USD slide

The Pound Sterling (GBP) rises by some 0.40% on Friday as a batch of US data supports a Federal Reserve (Fed) dovish stance, with consumer sentiment deteriorating while the disinflation process showed further progress. The GBP/USD pair trades at 1.3545 after hitting a three-month high of 1.3561 earlier in the day. Read More...

British Pound strengthens against US Dollar as traders price out hawkish Fed bets

The British Pound (GBP) trades 0.35% higher to near 1.3533 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair reflects strength as the US Dollar declines, with traders pricing out the possibility of an interest rate hike by the Federal Reserve (Fed) in the September policy meeting. Read More...

British Pound strengthens to near 1.3500 as Fed rate hike bets ease

The GBP/USD pair gathers strength to near 1.3495 during the early European trading hours on Friday. The British Pound (GBP) edges higher against the US Dollar (USD) as cooler-than-expected US consumer and producer price data have limited the Federal Reserve's (Fed) room for further interest rate hikes. Traders will keep an eye on the US July Retail Sales report later on Friday. Read More...

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GBP/USD hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.