Pound Sterling Price News and Forecast: GBP/USD trades with mild gains near 1.3560

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Pound Sterling nudges higher on Iran truce optimism ahead of US jobs data

The GBP/USD pair posts modest gains around 1.3560 during the Asian trading hours on Friday. Hopes for a peace deal to end the Middle East conflict weaken the US Dollar (USD) as a safe-haven asset. The US April employment data will take center stage later on Friday.

US President Donald Trump said that a ceasefire with Iran is still in place despite fresh military clashes in and around the Strait of Hormuz, warning that it would be obvious if the ceasefire were over, per CNN. The Trump administration has been waiting for Iran to respond to its proposal to reopen the critical waterway and end the war. Growing optimism surrounding a potential US-Iran peace deal could drag the USD lower and act as a tailwind for the major pair in the near term. Read more...

GBP/USD slips as Iran hope fades and Dollar firms

GBP/USD edged slightly lower to around 1.3550 on Thursday, lower around 0.3% after the pair touched a session high near 1.3645 before turning back down. Price has been holding a roughly 100-pip range below the multi-month peak just under 1.3660, with a series of overlapping candles after the strong rally off May 1 swing lows close to 1.3450.

For the US Dollar (USD), the overarching driver remains the US-Iran ceasefire narrative and the Strait of Hormuz situation. Wednesday's slide for the Greenback came as the White House signaled it was close to a memorandum of understanding with Tehran, alongside President Trump's pause on the US-led effort to assist stranded vessels exiting the strait while fresh talks proceed. That backdrop pulled the Dollar Index down toward 97.60, a three-month low, before Thursday's modest rebound as some of the optimism trade unwound. A heavy slate of Federal Reserve (Fed) speakers including Collins, Hammack, Daly and Williams kept rate expectations in flux ahead of Friday's US Nonfarm Payrolls (NFP) print, where consensus stands close to 62K against a prior 178K. Read more...

GBP/USD climbs as US-Iran peace hopes weaken US Dollar

GBP/USD advances by some 0.28% on Thursday as the US and Iran appear close to signing a peace deal that could reopen the Strait of Hormuz, while keeping issues like the nuclear program unresolved. At the time of writing, the pair trades at 1.3627, rising for a third consecutive day.

The mood in financial markets is positive, driven by news of a possible end to the conflict. Pakistani officials mentioned that the priority is a “permanent end to war.” Once achieved, the rest of the issues could be solved when direct talks resume between Washington and Tehran. Read more...

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GBP/USD rebounds toward 1.3250, markets assess UK PM Starmer resignation

GBP/USD regains its traction and rises toward 1.3250 in the European session on Monday following a drop below 1.3200 with the immediate reaction to UK PM Keir Starmer's resignation announcement.

EUR/USD holds near 1.1450 amid concerns over Iran deal progress

EUR/USD struggles to stage a rebound and fluctuates at around 1.1450 on Monday. Concerns about progress for the US-Iran peace deal and expectations of higher US interest rates keep the US Dollar supported against the Euro. ECB President Lagarde is set to speak later on Monday.

Gold rises above $4,200 as tensions ease in Middle East

Gold stays in positive territory above $4,200 on Monday, looking to snap a three-day losing streak. News of US and Iran making progress in the latest round of talks seems to be helping the precious metal hold its ground at the beginning of the week.

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."

Canada CPI Preview: Inflation expected to tick higher in May, pressuring BoC outlook

The publication of Canada’s May Consumer Price Index figures on Monday will be the focus of attention. Indeed, Statistics Canada data will provide markets with an update on price pressures following its June 10 meeting, where policymakers kept the interest rate steady at 2.25%, matching the broad consensus.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.