Pound Sterling Price News and Forecast: GBP/USD reaches new multi-year high above 1.3200

FXStreet Team FXStreet

GBP/USD Price Forecast: Reaches new multi-year high above 1.3200

The Pound Sterling extended its gains and refreshed multi-year highs at around 1.3246 on Tuesday as the Greenback failed to recover following a surprisingly dovish tilt by Fed Chair Jerome Powell at his Jackson Hole speech. Investors increased their bets that the US central bank will lower rates at the September meeting, a tailwind for the GBP/USD. The pair exchanged hands at 1.3239 and is up by 0.40%. Read More...

Pound Sterling jumps above 1.3200 as UK Starmer signals higher taxes

The Pound Sterling (GBP) rises further above the round-level figure of 1.3200 to near 1.3240 against the US Dollar (USD) in Tuesday’s New York session. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, exhibits a subdued performance below the immediate resistance of 101.00. The GBP/USD pair is expected to take a breather after last week’s sharp increase, with investors looking for fresh cues about the likely size of the Federal Reserve (Fed) interest rate cut in September. Read More...

GBP/USD holds position around 1.3200 ahead of UK PM Starmer’s speech

GBP/USD inches higher as concerns about an imminent broader conflict in the Middle East have diminished, top US General C.Q. Brown told Reuters early Tuesday, following the exchange of fire between Israel and Lebanon's Hezbollah seen over the weekend. The risk-sensitive GBP/USD pair trades around 1.3190 during Tuesday’s Asian hours. Read More...

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GBP/USD extends losses toward 1.3200 after weak UK PMI data

GBP/USD loses further ground toward 1.3200 in the European session on Tuesday. Political uncertainty in the United Kingdom weighs on the British Pound, alongside weak business PMI data for June. Meanwhile, the US Dollar capitalizes on the risk-off mood and hawkish Fed bets ahead of the US PMI release.

EUR/USD stays weak below 1.1450 after German, EU PMI data

EUR/USD struggles to stage a rebound and trades below 1.1450 in the European session on Tuesday, after the data from Germany showed that the Composite PMI declined to 48 in June from 48.8 May, while that from the Eurozone rose to 49.5. Meanwhile, the US Dollar holds the upper hand against the Euro amid risk-off sentiment and a hawkish Fed outlook, leaving the pair on the defensive. Traders now await the US PMI data.

Gold drops to nearly two-week low, seems vulnerable amid Fed hike bets, bullish USD

Gold adds to its Asian session losses, and drops to a nearly two-week low, around the $4,115 region in the last hour amid a bullish US Dollar. Despite positive signals from US-Iran peace talks, widespread skepticism remains toward a final deal. This helps the USD in preserving its recent strong gains to the highest level since May 2025.

Dogecoin risks fresh yearly lows as bears tighten grip

Dogecoin (DOGE) remains under pressure, trading below $0.09 after failing to break above a key resistance zone, and losing more than 7% last week. Weakening institutional interest, declining social dominance and a rise in bearish derivatives positioning continue to weigh on DOGE. In addition, deteriorating momentum indicators suggest the meme coin risks a deeper correction.

US S&P Global PMI expected to show steady business growth in June

S&P Global will release the June flash Purchasing Managers' Indices for most major economies, with the United States data scheduled on Tuesday. These surveys of top private-sector executives are seen as an early indicator of the country’s economic health.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.