Pound Sterling Price News and Forecast: GBP/USD signals caution as BoE takes spotlight

FXStreet Team FXStreet

GBP/USD signals caution as BoE takes spotlight

GBPUSD made a modest push into the 1.3000 area following the FOMC policy meeting on Wednesday, which kept the door open for rate cuts amid ongoing uncertainty about the US economic outlook.

The Bank of England is next on the calendar today, and the pair is currently trading moderately lower at 1.2964 after UK claimant counts jumped unexpectedly in February. While the central bank is widely expected to hold rates steady, any shifts in its communication tone in response to trade and geopolitical risks could generate fresh volatility. Read more...

GBP/USD Forecast: Pound Sterling fails to attract buyers ahead of BoE

GBP/USD stays on the back foot and trades in negative territory below 1.3000 in the European morning on Thursday as markets assess the latest data releases from the UK, while waiting for the Bank of England's (BoE) policy announcements.

The Federal Reserve left the policy rate unchanged at 4.25%-4.5% following the March meeting, as expected. The revised Summary of Economic Projections (SEP), also known as the dot plot, showed that policymakers still project a total of 50 basis points (bps) reduction in rates in 2025. Although the US Dollar (USD) struggled to gather strength with the immediate reaction, it managed to find a foothold during Fed Chairman Jerome Powell's press conference. Read more...

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EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.