Pound Sterling Price News and Forecast: GBP/USD remains in a firmly bullish stance

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GBP/USD takes a hard rejection from fresh highs, but holds on the bullish side

GBP/USD briefly clipped the 1.3200 handle for the first time in six months on Thursday, climbing into fresh highs as the Greenback turns sour across the board. The Trump administration’s “reciprocal” tariffs and a flat tariff have kicked the legs out from beneath market sentiment, despite a delayed reaction to tariff announcements that came after US markets closed on Wednesday.

This week, the UK economic data release schedule is relatively sparse, but a new report on US Nonfarm Payrolls (NFP) will be published on Friday. This NFP data could significantly influence markets as the US economy transitions to a post-tariff landscape, with March’s labor figures expected to serve as a “bellwether” for the effects of the Trump administration’s tariff strategies. Read more...

Pound Sterling outperforms US Dollar as Trump tariffs fuel US recession risks

The Pound Sterling (GBP) surges to near 1.3200 against the US Dollar (USD) during the North American trading hours on Thursday, the highest level seen in almost six months. The GBP/USD pair soars as the US Dollar plummets after US President Donald Trump unveils worse-than-expected tariffs for his trading partners. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, nosedives to near 101.35.

US President Trump announced a 10% baseline duty on all products entering the US and additional specific levies on the majority of its trading allies, which have followed threats of countermeasures by their leaders. Market participants expect that the full-scale implementation of tariffs will lead the US economy to a recession. Such a scenario underpins the need for more interest rate cuts from the Federal Reserve (Fed) despite knowing that higher levies have also stoked worries about persistent inflation. Read more...

GBP/USD Price Forecast: Sticks to strong gains near multi-month top, above mid-1.3000s

The GBP/USD pair gains strong follow-through positive traction for the second successive day on Thursday and advances to its highest level since October 2024 during the Asian session. Spot prices currently trade just above mid-1.3000s, up 0.40% for the day, and seem poised to climb further amid a bearish US Dollar (USD).

The USD Index (DXY), which tracks the Greenback against a basket of currencies, dives to a fresh year-to-day low in reaction to US President Donald Trump's trade tariffs, which lifts bets that the Federal Reserve (Fed) will resume its rate-cutting cycle soon. This, along with the anti-risk flow, triggers a steep decline in the US Treasury bond yields and further undermines the buck. 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.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.