Pound Sterling Price News and Forecast: GBP/USD holds gains near the 39-month high of 1.3593

FXStreet Team FXStreet

GBP/USD maintains position above 1.3550 near 39-month highs due to risk-on mood

GBP/USD extends its winning streak for the third successive session, trading around 1.3570 during the Asian hours on Tuesday. The pair is hovering near the 39-month high of 1.3593, which was marked on Monday. The pair continues to appreciate as the US Dollar (USD) weakens due to growing fears over the United States' (US) debt concerns.

The Greenback faces challenges as the easing trade tension between the United States (US) and the European Union (EU) improves the traders’ risk appetite. US President Donald Trump extended the tariff deadline on the European Union (EU) from June 1 to July 9 after having a phone call with European Commission President Ursula von der Leyen on Sunday. On Friday, Trump threatened to impose a 50% tariff on imports from the European Union (EU). Read more...

GBP/USD eases from multi-year high amid thin trading, BoE speeches eyed

The British Pound (GBP) is trading sideways against the US Dollar (USD) after reaching its highest level in three years at the start of this week’s session. The GBP/USD pair surged to 1.3593 early in Monday’s session. At the time of writing, the pair gave back some of the early gains to trade around 1.3560 during the late American session amid holiday-thinned trading volumes.

The short pullback from the daily high comes as the US Dollar gained some ground on the hopes of easing trade tensions between the US and the EU, with the US Dollar Index (DXY) holding steady near 99.00, recovering from a four-week low. Read more...

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