Pound Sterling Price News and Forecast: GBP/USD softens to around 1.3355 during Asian session

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British Pound declines to near 1.3350 as US launches strikes on Iran

The GBP/USD pair loses traction to near 1.3355 during the Asian trading hours on Wednesday. The US Dollar (USD) edges higher against the British Pound (GBP) amid renewed geopolitical tensions after the US renewed strikes on Iran. The Federal Reserve’s (Fed) June meeting minutes will be published later on Wednesday.

Washington unleashed a new wave of strikes against Tehran on Tuesday and revoked a license allowing the country to sell oil after three tankers were attacked in the Strait of Hormuz, per Reuters. Geopolitical fears surge following this headline, supporting the Greenback as a safe-haven asset. Read more...

British Pound Sterling Runs Out of American Bad News After Nine Straight Days

The Pound's nine-session march against the Dollar ended on Tuesday, and it took exactly one geopolitical headline to finish it. Cable opened near 1.3392, poked above the 1.3400 handle in early European trade, and then spent the balance of the session giving ground to settle around 1.3356, down 0.27% and back below a daily moving-average cluster that has been waiting overhead for weeks.

The streak that died on Tuesday was never a Sterling story to begin with, and its fuel was entirely imported: nine consecutive gains off the 1.3140 base in late June, powered by a deteriorating American labour tape. June nonfarm payrolls printed 57,000 against a consensus near 115,000, earlier months were revised lower, and Tuesday's ADP four-week average employment change slipped to 21,000 from 24,250, extending the softening trend. Read more...

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AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

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Gold remains range-bound below $4,200

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

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The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.