Pound Sterling Price News and Forecast: GBP/USD holds near 1.3500 as CPI relief meets Hormuz risk

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British Pound holds near 1.3500 as CPI relief meets Hormuz risk

The Pound Sterling (GBP) holds firm within familiar levels on Wednesday after the US inflation report was in line with estimates, a relief for the Federal Reserve (Fed), which is laser-focused on tackling higher prices. The GBP/USD pair trades at around 1.3500 after reaching a high of 1.3546. Read More...

Pound Sterling retains gains as US CPI trims September Fed hike odds

GBP/USD trades modestly higher on Wednesday as the US Dollar (USD) comes under mild pressure following the release of the latest US inflation figures. However, the market reaction remains limited as the data broadly matched expectations. At the time of writing, GBP/USD trades around 1.3523, near its highest level since July 16. Read More...

British Pound holds steady above 1.3500 vs USD as traders eye US CPI ahead of UK GDP

The GBP/USD pair extends its sideways consolidation around the 1.3500 psychological mark through the first half of the European session on Wednesday. Traders opt to wait on the sidelines ahead of important macro data from the US and the UK. Read More...

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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.

GBP/USD breaches below 1.3500, two-day lows

GBP/USD faces renewed selling pressure, eroding the earlier advance and slipping back to the sub-1.3500 region on Wednesday. Cable’s loss of upside momentum follows the resurgence of the demand for the Greenback amid steady geopolitical tensions. Looking ahead, the British Pound is expected to remain under scrutiny in light of the release of UK GDP data on Thursday.

EUR/USD deflates to weekly troughs near 1.1520

EUR/USD accelerates its daily correction, coming close to the 1.1520 region, or weekly lows, in the latter part of Wednesday’s session. The pair’s drop comes amid the US Dollar’s firm rebound, as investors seem to have fully digested the latest US inflation data.

Gold challenges $4,400 amid USD bounce

Gold now gives away part of its earlier advance to the vicinity of the $4,450 mark per troy ounce and approaches the $4,400 hurdle on Wednesday. The yellow metal’s partial loss of momentum comes as the US Dollar manages to regain balance in the wake of the CPI-led decline.

Ripple lags recovery as exchange reserves expand

Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.

911 million shares freed: Why SpaceX rallied into its own supply

The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.

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.