Pound Sterling Price News and Forecast: GBP/USD slumps against US Dollar as Trump threatens reciprocal tariffs

FXStreet Team FXStreet

Pound Sterling slumps against US Dollar as Trump threatens reciprocal tariffs

The Pound Sterling (GBP) slides to near 1.2630 against the US Dollar (USD) in North American trading hours on Thursday. The GBP/USD pair faces pressure as the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, jumps higher slightly above 107.00 after threats of reciprocal tariffs from United States (US) President Donald Trump in the US opening session and upbeat US Durable Goods Orders data for January. Read More...

GBP/USD holds losses near 1.2650 as risk aversion intensifies, US Treasury yields climb

GBP/USD depreciates after two consecutive sessions of gains, trading around 1.2660 during Asian hours on Thursday. The pair loses ground as the US Dollar (USD) strengthens amid increased risk aversion and rising US Treasury yields. Read More...

GBP/USD runs out of bullish gas at key technical levels

GBP/USD briefly tested a fresh 10-week high on Wednesday, piercing 1.2700 for the first time since mid-December. However, souring risk sentiment took hold during the US market session, dragging Cable back down into near-term consolidation and keeping the pair chained south of the 200-day Exponential Moving Average (EMA). Read More...

Author

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 hangs near three-week low, below 0.6950 as traders await US NFP report

AUD/USD hits a three-week low during the Asian session on Friday as the RBA’s dovish shift and a rout in equity markets weigh on the risk-sensitive Aussie. However, the recent slump in US bond yields to a two-month low keeps US Dollar bulls on the back foot and limits losses for the currency pair as traders look to the US NFP report for a fresh impetus.

USD/JPY bounces off three-week low; keeps the red near 157.65 as focus remains on US NFP

USD/JPY bounces off the weekly low set during the Asian session, as bears turn cautious ahead of the US NFP report due later this Friday. The upside seems limited as the recent slump in US bond yields and hopes of Iran war de-escalation undermine the US Dollar. Moreover, a hawkish BoJ and intervention risks support the Japanese Yen, capping the pair.

Gold loses the grip; $4,000 comes next on the downside

Gold sets aside two daily advances in a row on Friday, opening the door to a potential test of the key $4,000 mark per troy ounce. The precious metal’s retracement follows a decent improvement in the sentiment surrounding the US Dollar, solid NFP data and higher US Treasury yields across the board.

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Week ahead – Inflation and geopolitics in focus as US political landscape shifts

Post-midterm election euphoria fizzles out as risk aversion prevails. US CPI, PPI and Fedspeak on the radar as Fed hike bets remain supported. Oil retreat pauses on mixed hopes about the ongoing conflicts.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.