Pound Sterling Price News and Forecast: GBP/USD may recover as the Pound Sterling strengthens

FXStreet Team FXStreet

GBP/USD holds losses near 1.3450, downside seems limited amid BoE cautious stance

GBP/USD loses ground after two days of gains, trading around 1.3470 during the Asian hours on Tuesday. However, the pair may regain its ground as the Pound Sterling (GBP) could gain ground, driven by the market caution regarding the Bank of England’s (BoE) policy stance amid sticky inflationary pressures and cooling labor market conditions.

The BoE projected at the August policy meeting that inflation would peak around 4% in September. However, Deputy Governor Clare Lombardelli and MPC member Catherine Mann cautioned last week that the recent inflation shocks should not be viewed as temporary. Read more...

GBP/USD flat as US shutdown drags into sixth day

The Pound Sterling (GBP) remains flat during the North American session on Monday as the US government shutdown reaches its sixth day, which has kept financial markets trading blind due to the lack of economic data. GBP/USD trades at around 1.3474, virtually unchanged.

The US Senate is set to vote late Monday on a House bill that would temporarily fund the government, according to Bloomberg. The White House continued to exert pressure on Democrats, giving them another chance to pass the spending bill before initiating mass firings of federal workers. The US docket will feature Federal Reserve (Fed) speakers throughout the week, along with the Federal Open Market Committee (FOMC) last meeting minutes. Read more...

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EUR/USD trims gains, nears 1.1700

The EUR/USD pair eases in the American afternoon and approaches the 1.1700 mark. The pair surged earlier in the day after the ECB left interest rates unchanged and upwardly revised inflation and growth figures. The US CPI rose 2.7% YoY in November, nearing Fed’s goal.

GBP/USD steadies below 1.3400 as traders digest BoE policy update and US inflation data

The GBP/USD pair stalls the previous day's pullback from the vicinity of mid-1.3400s and a nearly two-month high, though it struggles to attract meaningful buyers during the Asian session on Friday. Spot prices currently trade around the 1.3380-1.3385 region, up only 0.05% for the day, amid mixed cues.

Gold edges lower despite Fed rate cut hopes on cooling US inflation

Gold price declines to below $4,350 during the early Asian trading hours on Friday. The precious metal edges lower due to some profit-taking and weak long liquidation from shorter-term futures traders.

Bitcoin, Ethereum, XRP face sharp volatility as US posts lowest inflation rate in years

The latest inflation report released on Thursday in the United States sparked a wave of volatility in the crypto markets. The US Consumer Price Index rose 2.7% YoY in November, below forecasts of 3.1%, and lower than September's 3.0% reading, according to the Bureau of Labour Statistics.

Bank of England cuts rates in heavily divided decision

The Bank of England has cut rates to 3.75%, but the decision was more hawkish than expected, leaving market rates higher and sterling slightly stronger. It's a close call whether the Bank cuts again in February or March.

Ripple holds $1.82 support as low retail demand weighs on the token

Ripple (XRP) is trading between a key support at $1.82 and resistance at $2.00 at the time of writing on Thursday, reflecting the lethargic sentiment in the broader cryptocurrency market.