Pound Sterling Price News and Forecast: GBP/USD may regain its ground amid concerns over Fed independence.

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GBP/USD maintains position around 1.3500 ahead of Q2 US GDP Annualized

GBP/USD remains steady after two days of gains, trading around 1.3500 during the Asian hours on Thursday. The pair may further appreciate as the US Dollar (USD) struggles amid rising concerns over the US Federal Reserve’s (Fed) independence.

Traders await the Q2 US Gross Domestic Product (GDP) Annualized due later in the day. Focus will shift toward July Personal Consumption Expenditures (PCE) Price Index data, the Fed's preferred inflation gauge. Read more...

GBP/USD dips to 1.3457 as Fed turmoil boosts US Dollar rebound

GBP/USD drops over 0.16% on Wednesday as the US Dollar (USD) continues to recover some ground, courtesy of the White House's threats to the independence of the Federal Reserve (Fed), which triggered a rise on the long end of US Treasury bond yields. The pair trades at 1.3457 after slipping from a daily peak of 1.3482.

There is a mixed market mood due to rumors that US President Donald Trump fired Fed Governor Lisa Cook, allegedly over allegations of mortgage fraud. Initially, the US Dollar weakened, but it has so far recovered, as depicted by the US Dollar Index (DXY), which tracks the performance of the US Dollar’s value against a basket of six currencies, up 0.24%, at 98.45. Read more...

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EUR/USD: Gains remain capped by 1.1650

EUR/USD remains in recovery-mode following the closing bell in Euroland on Wednesday, hovering around the 1.1650 zone amid renewed downside pressure on the US Dollar and a marginal improvement in the global sentiment.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold struggles to surpass $5,200

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.