Pound Sterling Price News and Forecast: GBP/USD surges to 1.3300 as BoE keeps interest rates steady at 5%

FXStreet Team FXStreet

Pound Sterling surges to 1.3300 as BoE keeps interest rates steady at 5%

The Pound Sterling (GBP) strengthens against its major peers on Thursday after the Bank of England's (BoE) monetary policy announcement. The BoE left interest rates unchanged at 5%, as expected, as the United Kingdom (UK) core Consumer Price Index (CPI) data for August came in higher than expected. Read More...

GBP/USD Price Forecast: Touches new yearly high but diverging with momentum

GBP/USD has rallied to a new high for 2024 on Thursday; the pair reached 1.3314 during trading on Thursday, its highest price for the year. Read More...

GBP/USD trims a part of intraday losses, down a little below 1.3200 ahead of BoE

The GBP/USD pair finds some support near the 1.3150 region on Thursday and for now, seems to have stalled its retracement slide from the 1.3300 neighborhood, or the highest level since March 2022 touched the previous day. Spot prices climb closer to the 1.3200 mark during the Asian session, albeit lack follow-through amid some follow-through US Dollar (USD) buying and currently trade with modest intraday losses. 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.

GBP/USD flirts with weekly highs in the Fed's aftermath

GBP/USD reversed early losses following the Federal Reserve decision to keep rates on hold and neared the 1.3360 level before shedding some ground. Focus shifts to Governor Kevin Warsh's speech, while the Bank of England will announce its monetary policy decision on Thursday.

EUR/USD extends rally pass 1.1450 on Fed's Warsh

EUR/USD trades at fresh weekly highs above 1.1450, following the Federal Reserve monetary policy decision to keep interest rates on hold. The statement showed policymakers remain confident in economic progress while blaming inflation on energy prices. The divided vote among officials put in doubt a September hike, leading to sharp US Dollar losses.

Gold faces rejection at $4,100 amid emergence of USD dip-buying

Gold retreats after facing rejection at $4,100 in the Asian session on Thursday as the US Dollar attracts some dip-buyers following the previous day's post-FOMC slide to a one-week low. Escalating US-Iran tensions support oil prices, fueling inflation fears and reviving the Greenback's haven demand at the expense of the bullion.

WTI falls below $83.00 despite hostilities in the Middle East

West Texas Intermediate, the US crude oil benchmark, is trading around $82.80 during the early Asian trading hours on Thursday. WTI falls amid some profit-taking despite escalating conflicts in the Middle East. Traders book some profits following the US Federal Reserve interest rate decision.

Fed review: Reversing course (?)

At face value, the FOMC's 9-3 split decision hold was exactly in line with the expectations we laid out in our Fed preview - a divided hold, 22 July. We also named the three dissenters - Hammack, Logan and Kashkari - as the most likely hawks to support rapid tightening.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.