Pound Sterling Price News and Forecast: GBP/USD may regain its ground amid less further rate cuts by the BoE

FXStreet Team FXStreet

GBP/USD falls to near 1.3450, upside appears on fading BoE rate cut bets

GBP/USD retraces its recent gains from the previous session, trading around 1.3450 during the Asian hours on Wednesday. The pair may regain its ground as the Pound Sterling (GBP) receives support from the dampened likelihood of further Bank of England (BoE) rate cuts, driven by persistent inflationary pressures. Inflation in the UK economy has been accelerating at a faster pace in recent months.

Catherine Mann, a member of the BoE Monetary Policy Committee (MPC), said on Tuesday that the bank rate should be held persistently to lean against inflation risks. She also stated, “I stand ready for a forceful policy action, in the form of larger, more rapid Bank Rate cuts, should the downside risks to domestic demand start materializing.” Read more...

GBP/USD churns chart paper near key figures ahead of quiet session

GBP/USD rebounded from early-week losses on Tuesday, bouncing back up from a fresh technical floor near the 1.3450 level. Cable has been drifting within familiar technical levels as broad-market investor sentiment grinds to a halt ahead of key US economic figures.

It’ll be a quiet market session on Wednesday; meaningful economic data is functionally absent on both sides of the Atlantic. Investors will be on the lookout for further political headlines from the Trump administration as traders await results from President Donald Trump’s attempt to directly “fire” Dr. Lisa Cook from the Federal Reserve (Fed) Board of Governors on Monday. Read more...

GBP/USD recovers toward 1.3500 ahead of US consumer sentiment data

Following Monday's bearish action, GBP/USD stages a rebound on Tuesday. At the time of press, the pair was up 0.25% on the day at 1.3485. The risk-averse market atmosphere caused GBP/USD to edge lower on Monday. Growing concerns over the Federal Reserve's (Fed) independence, however, makes it difficult for the US Dollar (USD) to gather strength and helps the pair gain traction on Tuesday.

United States (US) President Donald Trump announced on Truth Social late Monday that he has fired Fed Governor Lisa Cook. In response, Cook released a statement via her attorneys, noting that Trump has no authority to fire her and that she will carry out her duties. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD defends 1.3300 after strong UK PMI data

Following Thursday's sharp decline, GBP/USD clings to small gains above 1.3300 in the American session on Friday, supported by the upbeat UK Retail Sales and July PMI data. Nevertheless, the pair's upside remains capped as investors cling to a cautious stance amid a further escalation of tensions in the Middle East. The US July PMI data failed to trigger relevant price action.

EUR/USD remains below 1.1400 after mixed US PMIs

EUR/USD pressures daily lows below the 1.1400 mark in the American session on Friday. Mixed S&P Global PMIs, as manufacturing output contracted while services activity expanded in July, triggered no relevant market reaction. The focus remains in Middle East developments and inflation-related concerns.

Gold reclaims $4,100 os Iran diplomacy hopes temper Fed hike bets and weigh on USD

Gold looks set to build on a modest bullish gap-up opening on Monday, beyond $4,100, as hopes of US-Iran peace talks weigh heavily on crude oil prices, easing inflation fears and tempering Fed rate-hike bets. Moreover, the optimism drags the safe-haven US Dollar away from a one-month top, touched on Friday, and supports the non-yielding bullion. The focus now shifts to the crucial FOMC policy meeting this week.

Week ahead: Fed, BoE and BoJ face inflation test as markets reprice interest rate paths

The US dollar gained against the other major currencies this week amid the escalating tensions in the Middle East as well as US President Trump’s decision to proceed with a new round of tariffs after previously imposed levies expired.

Australian Dollar outlook: Chances of another rally won’t be decided in Canberra, but in Washington

The Australian Dollar rode a rollercoaster in the first half of the year, hitting a four-year high and then correcting. The currency enters the second half with an outlook full of uncertainty due to renewed hostilities in the Middle East, which clouds the inflation outlook and interest rates.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.