Pound Sterling Price News and Forecast: GBP/USD targets new multi-month highs on broad USD weakness

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GBP/USD Forecast: Pound Sterling targets new multi-month highs on broad USD weakness

GBP/USD benefited from the broad-based selling pressure surrounding the US Dollar (USD) and gained about 1% on Monday. The pair continues to stretch higher in the European session on Tuesday and trades at its highest level since mid-December above 1.2700.

The USD weakened against its major rivals on Monday as the disappointing macroeconomic data releases from the US and US President Donald Trump's tariffs revived fears over an economic downturn in the US. Read more...

GBP/USD Forecast: Pound Sterling not out of the woods yet

GBP/USD registered daily losses on Thursday and Friday to end the previous week in negative territory. The pair holds steady at around 1.2600 in the European morning on Monday.

The broad-based US Dollar (USD) strength in the second half of last week caused GPB/USD to stretch lower. US President Donald Trump's confirmation of March 4th as the date for 25% tariffs on Canadian and Mexican imports, as well as an additional 10% tariff on Chinese goods, to go into effect, combined with his argument with Ukrainian President Volodymyr Zelenskyy in the Oval Office on Friday forced investors to stay away from risk-sensitive assets heading into the weekend. Read more...

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EUR/USD back around 1.1600 on firmer Dollar

EUR/USD is back under pressure and slipping towards the 1.1600 mark, hovering around multi-week lows as the Greenback extends its recovery. The move higher in the pair comes amid higher US yields and a generalised subdued sentiment in the risk complex.

GBP/USD drops to four-week lows near 1.3360

Moving in step with other risk-sensitive peers, GBP/USD is attracting heavier selling and has slipped below the key 1.3400 support on Thursday to hit fresh four-week troughs. Cable’s decline reflects a firmer US Dollar as investors keep evaluating the latest batch of US data.

Gold remains offered just above $4,600

Gold is giving back part of its recent strong run, managing to bounce off earlier lows and reclaim the area beyond the $4,600 mark per troy ounce on Thursday. The pullback comes as the Greenback regains traction, Treasury yields move higher, and some profit-taking kicks in.