Pound Sterling Price News and Forecast: GBP/USD holds steady as the US Dollar stabilizes

FXStreet Team FXStreet

British Pound inches lower amid market caution ahead of US-Iran deal updates

GBP/USD loses ground after registering minor gains in the previous day, trading around 1.3400 during the Asian hours on Tuesday. The pair inches lower as the US Dollar (USD) receives support from the market caution ahead of further developments regarding US-Iran peace talks.

Because neither Washington nor Tehran has released the official text of the agreement, major shipping lines are delaying vessel rerouting through the strategic waterway until full transparency is established. Read more...

British Pound Sterling's peace rally round-trips ahead of the Fed

GBP/USD opened the new week with a sharp risk-on pop toward 1.3450 as a US-Iran ceasefire and the reopening of the Strait of Hormuz sent Crude Oil tumbling and lifted risk-sensitive currencies. The entire move then unwound, leaving the pair back near 1.3400, almost exactly where it started. The relief was genuine but shallow, and a Dollar quietly bidding into Wednesday's Federal Reserve (Fed) meeting did the rest.

The deal that sparked the move is, on paper, a breakthrough, but the fine print invites skepticism. It is a preliminary framework: a 60-day ceasefire extension with Iran's nuclear program pushed into later talks and a formal signing not due until Friday. Crude Oil fell close to 5%, yet the broader risk reaction was only moderate, with most of the buying already done last week. 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.

USD/JPY recovers toward 160.50 ahead of BoJ press conference

USD/JPY recovers losses and heads toward 160.50 in early Europe on Tuesday, following the release of the Bank of Japan's monetary policy decision. The BoJ hiked the key rate by 25 bps to 1% as widely, providing little to no impetus to the Japanese Yen. The focus is now on the BoJ Deputy Governor Uchida's press conference.

AUD/USD sticks to red near 0.7050 after RBA's pause

AUD/USD remains in the red near 0.7050 following the Reserve Bank of Australia's (RBA) expected decision to pause its rate hike cycle. The pair assesses RBA Governor Bullock's press conference for a fresh trading impetus.

Gold holds gains above $4,300 amid cautious markets

Gold maintains a mildly positive tone, holding gains after rallying about 6.5% over the last few days. The precious metal's recovery, however, has lost steam after crossing the $4,300 line and remains practically flat as the initial enthusiasm about the US-Iran peace deal faded, with investors awaiting details of the agreement and monetary policy decisions by major central banks.

Solana's rebound gains momentum as ETF inflows return

Solana (SOL) steadies at $73 after posting three consecutive green candlesticks since the weekend. The recent recovery is supported by institutional demand, with spot Exchange Traded Funds recording net inflows of $2.81 million on Monday.

Kevin Warsh opens first Fed meeting June 16 with rate hold expected

Kevin Warsh was confirmed by the Senate in a 54-45 vote and sworn in as Federal Reserve Chair on 22 May 2026. The ceremony took place at the White House, with Supreme Court Justice Clarence Thomas administering the oath. The FOMC meeting on 16 and 17 June is his first as chair. The June meeting is also a quarterly projection meeting.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.