Pound Sterling Price News and Forecast: GBP/USD moves little as traders remain cautious amid uncertainty

FXStreet Team FXStreet

GBP/USD steadies around 1.3650 due to rising uncertainty over Trump's tariff plans

GBP/USD holds ground for the second consecutive day, trading around 1.3660 during the Asian hours on Friday. The pair remains steady as the US Dollar (USD) depreciates as traders adopt caution, while seeking clarity on US President Donald Trump's plans for tariffs on various countries. On Thursday, Trump told reporters that he “will begin sending letters on trade tariffs starting Friday.” He added that he would send letters to 10 countries at a time, laying out tariff rates of 20% to 30%, reported by Reuters.

The GBP/USD pair maintains its position as the Pound Sterling (GBP) receives support after Prime Minister (PM) Keir Starmer’s defense of Chancellor Rachel Reeves. PM Starmer affirmed that she would remain in her role of chancellor “for a very long time to come.” This helped ease market concerns that a potential replacement might adopt a looser fiscal stance with increased borrowing. Read more...

GBP/USD grapples with recovery ahead of quiet end to the week

GBP/USD churned away near the low-end of a near-term decline on Thursday, bolstered by selling pressure forcing the US Dollar lower after US Nonfarm Payrolls (NFP) jobs data came in hotter than expected. Markets were expecting a below-forecast print after this week’s ADP jobs preview showed a sharp contraction in private payrolls, but a steep increase in government-based education hiring offset declines in private sector employment.

Friday is set to fizzle in market impact terms. The US side of markets shuttered early on Thursday, and will remain closed for the US holiday on Friday. A mid-tier public appearance from Bank of England (BoE) policymaker Alan Taylor is slated for Friday, but is unlikely to move markets. There is little else of material importance on the UK side of the data docket for Friday. Read more...

GBP/USD steady despite US jobs surprise, Reeves uncertainty caps gains

The Pound Sterling (GBP) remains steady against the US Dollar (USD) on Thursday, after a solid Nonfarm Payrolls (NFP) report in the United States (US) cemented the case for the Federal Reserve (Fed) to hold rates in July, as the Unemployment Rate ticked lower. At the time of writing, GBP/USD is trading at 1.3634, virtually unchanged.

The US Bureau of Labor Statistics (BLS) reported that the US economy added 147,000 people to the workforce, exceeding estimates of 110,000 and May’s 144,000 print. The Unemployment Rate came at 4.1% down from 4.2%. The data fortifies the Fed Chair Jerome Powell's stance of wait-and-see and assesses the potential impact of tariffs on inflation. Read more...

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160.80: Japanese Yen remains close to nearly two-year lows

USD/JPY inches lower after four days of gains, trading around 160.60 during the Asian hours. The USD/JPY pair surged to 160.80 the previous day, marking its highest level since July 2024 and significantly heightening speculation that Japanese authorities could soon intervene to support the struggling Yen.

AUD/USD eyes 0.7050 on weaker USD; 100-day SMA holds the key for bulls

The AUD/USD pair regains positive traction during the Asian session, reversing part of the previous day's slide to sub-0.7000 levels, or the weekly low. Spot prices currently trade around the 0.7040 region, up nearly 0.40% for the day, amid a broadly weaker US Dollar.

Gold stays firm near $4,300 as Iran peace deal offsets hawkish Fed

Gold clings to its modest intraday gains in the European session on Thursday and hangs close to the $4,300 mark amid a broadly weaker US Dollar (USD). The optimism over a US-Iran peace deal prompts USD profit-taking and supports the bullion. The Fed’s hawkish tilt could limit USD losses, capping the commodity.

Ripple awaits a breakout while Stellar rally gathers pace

Ripple steadies at $1.19 below the upper boundary of its falling channel after facing rejection. Meanwhile, Stellar extends its gains, rallying over 25% so far this week. Derivatives metrics suggest a cautious outlook for XRP, while XLM's improving futures positioning suggests a bullish outlook.

BoE expected to keep interest rate unchanged as inflation pressures abate

The Bank of England is on track to leave the benchmark Bank Rate unchanged at 3.75% for the fourth consecutive time on Thursday, as the US-Iran peace deal and the softer-than-expected consumer inflation figures seen earlier in the week have eased pressures to tighten its monetary policy.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.