Pound Sterling rallies against US Dollar as Trump unveils reciprocal tariffs
The Pound Sterling (GBP) exhibits a different performance with each of its major peers on Thursday. The outlook of the British currency appears to be healthier as United States (US) President Donald Trump has imposed lower tariffs on the United Kingdom (UK). Trump slapped a 10% levy on Britain, which was the minimal figure seen in the reciprocal tariff chart. Read more...
GBP/USD Price Forecast: Sticks to strong gains near multi-month top, above mid-1.3000s
The GBP/USD pair gains strong follow-through positive traction for the second successive day on Thursday and advances to its highest level since October 2024 during the Asian session. Spot prices currently trade just above mid-1.3000s, up 0.40% for the day, and seem poised to climb further amid a bearish US Dollar (USD). Read more...
GBP/USD rises to test new highs, absorbs Trump tariffs in stride
GBP/USD stepped into fresh bids at six-month highs on Wednesday after the Trump administration unveiled tariffs that overall came in better than many investors had feared based on President Donald Trump’s cavalcade of tariff threats since taking up residence in the White House 72 days ago. The exact details of the tariff proposals remain complex, but US consumers can expect to pay a flat 10% tariff on all imports into the US, alongside an additional 25% tariff on all automobiles and car parts, and varied “reciprocal” tariffs charged at different levels on a per-country basis. Donald Trump also took the opportunity to remind the world that he still intends to issue even further tariff packages on things like copper, microchips, and other basic imported consumer goods that underpin the entire US economy. Read more...
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AUD/USD stays defensive near 0.6500 after Australian CPI data
AUD/USD stays defensive near 0.6500 in Wednesday's Asian trading. The Aussie faces headwinds from softer Australian CPI inflation data for May, which fans RBA rate cut expectations. A pause in the US Dollar sell-off undermines the pair despite a better market mood.
USD/JPY stalls the rebound below 145.00 after Japan's PPI, BoJ headlines
USD/JPY stalls the renewed upside below the 145.00 mark following the release of strong Japanese Services PPI, which supports the case for more BoJ rate hikes despite the mixed BoJ's June Summary of Opinions. Meanwhile, the US Dollar's downside consolidation phase also keeps the pair on the defensive.
Gold price ticks higher toward $3,350 on weaker US Dollar
Gold price is looking to build on the previous day's bounce from sub-$3,300 levels, or over a two-week low, amid the prevalent US Dollar selling bias. However, Powell's hawkish tone could limit deeper USD losses. Furthermore, the Israel-Iran ceasefire optimism might cap the yellow metal.
Circle stock plunges 15%, analysts predict bearish pressure from key long-term headwinds
Circle's CRCL fell to $222 on Tuesday, just a day after its surge to $292, nearly matching Coinbase's market cap. Several analysts predict that CRCL could see a reversal in the long term due to potential interest rate reductions and rising competition. CRCL’s market cap has declined to $54 billion.
Could Iran block the Strait of Hormuz? Why Oil is on edge after US strikes
As the Israel-Iran conflict reaches new heights, an old threat is coming back to haunt the markets: that of the closure of the Strait of Hormuz. This narrow arm of the sea in the Persian Gulf, wedged between Iran to the north and the United Arab Emirates and Oman to the south, is much more than a simple sea passage.
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