Pound Sterling Price News and Forecast: GBP/USD resumes downside

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GBP/USD Price Forecast: Resumes downside after testing Triangle breakdown zone

The British Pound (GBP) trades 0.38% lower at around 1.3150 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair faces intense selling pressure as the US Dollar outperforms due to hawkish Federal Reserve (Fed) bets.

At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.3% higher to near 101.70, the highest level seen in over a year. Read more...

British Pound extends the decline below 1.3200 on UK political instability concerns

The GBP/USD pair loses traction to around 1.3195 during the early European trading hours on Wednesday. The British Pound (GBP) softens against the US Dollar (USD) amid political instability following Keir Starmer’s resignation as Prime Minister. Traders brace for the US May Personal Consumption Expenditures (PCE) Price Index data, which is due later on Thursday.

The UK was plunged into yet another political crisis as Keir Starmer resigned on Monday under intense pressure following Andy Burnham's victory in the Makerfield by-election last week. His Labour Party will now need to select a new leader to lead the country. Read more...

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FXStreet Team

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AUD/USD holds firm near 0.7000 after Chinese inflation, trade data

AUD/USD stays firm near 0.7000 in Wednesday’s Asian session, picking up some bids after China's mixed inflation and upbeat trade data. CPI rose less than expected in September, while PPI inflation picked up. Meanwhile, the Chinese trade surplus unexpectedly widened in September. The pair remains underpinned by a broadly subdued US Dollar, despite the Middle East escalation, as focus remains on US CPI data.

USD/JPY consolidates near 158.50; looks to US CPI for fresh impetus

USD/JPY stays range-bound near 158.50 in the Asian session on Wednesday, with looming intervention risks supporting the Japanese Yen and capping upside amid a softer US Dollar. However, geopolitical uncertainties act as a tailwind for the safe-haven USD and the pair. Traders also seem hesitant ahead of the release of the latest US inflation figures.

Gold remains offered below $4,100

Gold adds to the weekly bearish tone and slips back below the $4,100 mark per troy ounce on Wednesday. Indeed, the precious metal continues to suffer the stronger US Dollar and rising US Treasury yields as bets for extra tightening by the Fed remain on the rise following US inflation figures.

XRP recovery faces headwinds despite Ripple and Meritz Securities' tokenization push in Korea

XRP trades above $1.36 as bulls gather momentum to face a critical supply range toward $1.40. Ripple and Meritz Securities partner to explore institutional custody and tokenization services for South Korea’s capital markets.

China's rare earth leverage has an expiration date: November 10. Here's what Beijing is deciding

China is approaching a major strategic deadline in its trade confrontation with the United States (US). On November 10, the suspension of additional rare earth export restrictions Beijing announced in October 2025 is set to expire.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?