Pound Sterling Price News and Forecast: GBP/USD hovers near 1.3600

FXStreet Team FXStreet

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling (GBP) may weaken amid a fresh government crisis in the United Kingdom (UK). Downing Street Chief of Staff Morgan McSweeney has resigned, accepting responsibility for advising Prime Minister Keir Starmer on the appointment of Jeffrey Epstein-linked Peter Mandelson as US ambassador.

The US Dollar (USD) comes under pressure against its peers, with traders turning cautious ahead of key economic releases that were delayed by the partial government shutdown. The January jobs report, due on Wednesday, is expected to point to stabilization in the labor market, with US Nonfarm Payrolls forecast to rise by 70,000, while the Unemployment Rate is seen holding steady at 4.4%. Meanwhile, the delayed January consumer price index data is scheduled for release on Friday. Read more...

GBP/USD Price Forecast: Holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s (BoE) interest-rate cut weighs on the Pound Sterling (GBP) against the Greenback.

The BoE was widely expected to leave interest rates unchanged at 3.75%, but the number of Monetary Policy Committee (MPC) members supporting keeping rates unchanged was lower than the seven expected by markets. Read more...

GBP/USD Weekly Forecast: Pound tests key support as US and UK data loom

The Pound Sterling (GBP) changed course against the US Dollar (USD), with GBP/USD giving up nearly 200 pips in a dramatic correction.

GBP/USD faced a double whammy during the week, with resurgent haven demand for the US Dollar (USD) on one hand. While the dovish Bank of England (BoE) interest rate on hold decision smashed the pair on the other hand. Read more...

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