Pound Sterling Price News and Forecast: GBP/USD slides toward 1.33

FXStreet Team FXStreet

GBP/USD slides toward 1.33 as weak UK jobs data fuels BoE rate cut bets

GBP/USD prolongs its losses for the second consecutive day on Tuesday as soft data in the United Kingdom (UK) justifies the need for lower interest rates by the Bank of England (BoE). The extension of the government shutdown in the US keeps the schedule light, except for Federal Reserve (Fed) Chair Jerome Powell's speech. Read More...

Pound Sterling weakens against US Dollar ahead of speeches from Fed's Powell, BoE's Bailey

The Pound Sterling (GBP) faces selling pressure against its peers on Tuesday after the release of the United Kingdom (UK) labor market data for the three months ending in August. Read More...

GBP/USD slips as Dollar rebounds, ahead of UK data and Fed speeches

The GBP/USD ended Monday’s session with loses of 0.13% as the Greenback staged a recovery, after US President Donald Trump tempered its rhetoric on China, over the weekend. At the time of writing, the pair trades at 1.3333 as the Tuesday’s Asian session begins. Read More...

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EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold clings to gains as US-Iran conflict continues to underpin safe-haven assets

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar could keep the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.