Pound Sterling Price News and Forecast: GBP/USD jumps to near 1.3480 amid hopes of the US-Iran deal

FXStreet Team FXStreet

GBP/USD Price Forecast: Extends recovery to near 20-EMA amid risk-on mood

The GBP/USD pair is up 0.35% to near 1.3480 during the Asian trading session on Monday. The Cable trades firmly as market sentiment for riskier assets has improved significantly due to increased hopes of a deal between the United States (US) and Iran.

In the Asian trade, S&P 500 futures jump 0.85% to near 7,540, reflecting strong investors’ appetite for risk-sensitive assets. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.3% lower to near 99.00. Read more...

British Pound gains ground above 1.3450 on US–Iran progress

The GBP/USD pair gains traction to near 1.3480 during the early Asian session on Monday. The US Dollar (USD) weakens against the British Pound (GBP) as the United States (US) and Iran signal peace progress. Trading volumes are expected to be light due to a market closure for Memorial Day in the US.

Senior US officials said on Sunday that Washington and Tehran are closing in on a deal that would reopen the Strait of Hormuz, even as US President Donald Trump said he won’t “rush” into an agreement, per Bloomberg. Signs of progress in the US-Iran peace deal could provide some support to the riskier asset, such as the GBP against the USD in the near term. Read more...

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