Pound Sterling Price News and Forecast: GBP/USD loses ground due to increased Trump trade

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GBP/USD depreciates as Trump trade rallies on exit polls favoring the Republican candidate

GBP/USD offers its recent gains registered in the previous session, trading around 1.2940 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains momentum on strengthening Trump trades as the voting favored Republican candidate Donald Trump in the US presidential election.

Polling data indicate a close race between Donald Trump and Kamala Harris, with Trump currently holding an edge. On Kalshi, Trump shows a strong 57% to 43% lead over Harris, while on Polymarket, the gap is slightly wider, with Trump at 60.7% and Harris at 39.5%. These figures reflect growing support for Trump as election day approaches, but the race remains competitive. Read more...

GBP/USD pushes back above 1.30 as the US heads into election territory

GBP/USD found the gas pedal on Tuesday, ramping up another two-thirds of a percent and clawing back above the 1.3000 handle as markets brace for what is likely to be a messy outcome from the US presidential election. Widely-anticipated rate cuts are also due from both the Bank of England (BoE) and Federal Reserve (Fed) this week, giving investors plenty to chew on in what is set to be one of the busiest weeks of the rest of the trading year.

US election odds have both candidates neck-and-neck in a dead-heat race for the Presidency, with former President Donald Trump and current Vice President Kamala Harris polling within 5% of each other, depending on which poll results you reference. Equity investors, tech sector addicts specifically, appear to broadly believe former President Trump to be the preferred stock-friendly candidate, an odd choice considering the Republican candidate has strongly voiced support of a return to the Smoot-Hawley tariff era of US history. Trump has regularly suggested stiff tariffs across the board on all imported goods into the US, an incredibly inflationary economic policy proposal. Read more...

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EUR/USD remains offered near 1.1950

EUR/USD comes under pressure near the 1.1950 zone following the closing bell on Wall Street on Wednesday. The Greenback’s rebound prompted spot to face some correction while investors continue to assess the latest FOMC event. On Thursday, the focus of attention will be on the weekly US labour market data and Factory Orders.

GBP/USD hesitates at four-year highs following lackluster Fed rate hold

GBP/USD churned in place on Tuesday, hitting a brief patch of volatility but otherwise holding steady near four-year highs as the US Dollar struggles to find its footing. The Federal Reserve held interest rates steady, as many investors broadly anticipated, but the Fed’s rate statement and Fed Chair Jerome Powell both failed to give any hints about potential shifts toward future rate cuts, which many investors broadly hoped.

Gold pulls back after testing $5,600 for first time on record

Gold price refreshed record highs near $5,600 before retreating to near $5,525 in Asian trading on Thursday. The bright metal's relentless upsurge has been bolstered by strong safe-haven demand amidst persistent geopolitical tensions, economic uncertainty, and a weaker US Dollar.

Fidelity unveils FIDD stablecoin, set to launch in coming weeks

Fidelity Investments announced that it will launch its first stablecoin, the Fidelity Digital Dollar, making it one of the first large traditional firms in the US to do so. The company will leverage the Ethereum blockchain to roll out the product to retail and institutional investors in the coming weeks, according to a press release on Wednesday.

Federal Reserve pauses, sees economy on firm footing

At its January meeting, the Federal Reserve kept the Fed Funds Target Range (FFTR) unchanged at 3.50%–3.75%, a decision that was fully in line with market expectations.

Bittensor Price Forecast: TAO rallies above $240 as AI tokens rebound

Bittensor reclaims $240 immediate support, reflecting positive sentiment in the broader crypto market. The TAO derivatives market signals retail interest return as futures Open Interest climbs to $163 million.