Pound Sterling Price News and Forecast: GBP/USD rises as Burnham reassures, Starmer pressure mounts

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British Pound rises as Burnham reassures, Starmer pressure mounts

The British Pound (GBP) extends its gains on Monday as political pressure over Prime Minister Keir Starmer increases. At the same time, Andy Burnham, the challenger to succeed Starmer, ruled out changing Chancellor Rachel Reeves’ fiscal rules if he becomes PM. The GBP/USD pair trades at 1.3414 after testing multi-week lows of 1.3302. Read More...

British Pound bounces up nearing 1.3400 on rumours about US-Iran peace talks

The British Pound (GBP) is trading higher against the US Dollar (USD) on Monday, to pare losses from a four-day sell-off. The pair is trading above 1.3350 at the time of writing, after bouncing from six-week lows at 1.3302 earlier in the day, as rumours of ongoing peace talks between the US and Iran have hit the safe-haven USD. Read More...

British Pound recovers from over one-week low vs weaker JPY; GBP/JPY retakes 212.00

The GBP/JPY cross stages a modest recovery from a one-and-a-half-week trough, set earlier this Monday, and retakes the 212.00 mark during the early European session. Spot prices, for now, seem to have snapped a two-day losing streak, with bulls now looking to conquer the 100-day Simple Moving Average (SMA) support breakpoint amid a combination of supporting factors. Read More...

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GBP/USD clings to daily gains near 1.3550

GBP/USD adds to Friday’s advance, briefly hitting three-month tops near 1.3570 before edging lower on Monday. Fading expectations of a Fed rate hike in September weigh on the Greenback, helping Cable to keep its bullish momentum ahead of the release of the UK jobs report on Tuesday.

EUR/USD trims gains, back to 1.1580

EUR/USD gives away part of the earlier advance north of 1.1600 the figure on Monday, receding toward the 1.1580-1.1570 band as the NA session enters its last part. The pair’s move higher comes on the back of persistent US Dollar weakness as investors scale back expectations of Fed rate hikes following a string of disappointing US data releases.

Gold loses some traction, still above $4,400

Gold faces some loss of momentum and slips back toward the vicinity of the $4,400 mark per troy ounce on Monday. The yellow metal adds to Friday’s uptick and its positive performance follows the steady offered stance in the US Dollar amid dwindling bets for further tightening by the Fed in the next few months.

Bitcoin range trade hints at looming volatility burst, analysts say

Bitcoin (BTC) trades slightly higher around $63,500 on Monday, following a slight correction the previous week, supported by improving risk sentiment and despite mild outflows from institutional demand.

Economists agree: Fed to leave interest rates unchanged this year – Reuters poll

A large majority of economists expect the Federal Reserve (Fed) to keep interest rates unchanged in September and for the rest of this year, according to a Reuters poll conducted between August 12 and 17.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.