Pound Sterling Price News and Forecast: GBP/USD rallies as weak NFP smashes Fed hike bets

FXStreet Team FXStreet

British Pound rallies as weak NFP smashes Fed hike bets

The Pound Sterling (GBP) registers solid gains against the US Dollar (USD) on Thursday after the latest US employment report missed estimates, reducing the chances of a Federal Reserve (Fed) rate hike. At the time of writing, the GBP/USD pair trades at 1.3359, down 0.64%, its highest level over the last ten days. Read More...

British Pound surges against US Dollar ahead of US NFP data

The British Pound (GBP) trades 0.5% higher to near 1.3340 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair reflects strength as the US Dollar underperforms its peers ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT. Read More...

British Pound gathers strength to near 1.3300 on Burnham’s commitment to fiscal rules, NFP data loom

The GBP/USD pair gains traction to near 1.3290 during the Asian trading hours on Thursday. The British Pound (GBP) strengthens against the US Dollar (USD) as the UK's likely next Prime Minister, Andy Burnham, has eased market concerns by pledging strict fiscal discipline. The US Nonfarm Payrolls (NFP) data for June will take center stage later on Thursday. Read More...

Author

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 flies to two-week highs, targets 1.3400

GBP/USD trades well above the 1.3300 barrier on Thursday as the Greenback comes under renewed selling pressure following a softer-than-expected US NFP report in June. Meanwhile, Cable extends its multi-day recovery and looks to challenge 1.3400 sooner rather than later.

EUR/USD climbs to multi-day highs near 1.1440

EUR/USD advances to the 1.1470 area, or multi-day peaks, on Thursday. The pair’s marked recovery comes in response to the broad US Dollar pullback, as investors continue to assess the latest NFP data and the persistent sell-off in USD/JPY.

Gold hits six-day tops past $4,100

Gold extends its bullish momentum on Thursday, climbing above the $4,100 mark per troy ounce to reach its highest level in a week. The precious metal’s sharp rebound comes as the US Dollar retreats following disappointing US NFP data.

Crypto Today: Bitcoin, Ethereum, XRP steady rebound as US and Iran conclude positive talks in Doha

The cryptocurrency market broadly rises on Thursday, reflecting improvement in risk sentiment following an extended period of selling pressure. Bitcoin is back above $60,000 after testing support at $58,000 earlier in the week.

The market may no longer be giving the Magnificent Seven a free pass

For much of the past three years, investing has felt surprisingly simple. Whenever markets stumbled, investors knew where to look. Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta and Tesla repeatedly led Wall Street higher, shrugging off inflation fears, higher interest rates and geopolitical shocks.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.