Pound Sterling Price News and Forecast: GBP/USD tumbled 1.2% on Monday, falling below 1.2750

FXStreet Team FXStreet

GBP/USD extends backslide as safe haven trade resumes

GBP/USD sank again on Monday, extending Cable into a second straight trading day of declines and pushing bids back down to the 200-day Exponential Moving Average (EMA) just north of 1.2700. After a brief reprieve, The US Dollar has resumed dominating risk-off flows, with deflating investor sentiment bolstering the Greenback across the board.

After a tense week that saw the US pivot fully into a protectionist trade stance (but without the industry infrastructure to back it up), widespread import tariffs are on the books, with the US charging a flat 10% import tax on all goods from all countries, as well as widely-varied “reciprocal” tariffs that were derived by dividing US imports by US exports. After imposing an additional 34% tariff on Chinese goods, China clapped back with a retaliatory 34% tariff of its own on all goods bound from the US. Lacking any other means of problem-solving, the Trump administration has threatened to impose an additional 50% tariff on all Chinese goods, set to take effect on April 8. Read more...

GBP/USD crashes over 100 pips below 1.28 as trade war escalates

The Pound Sterling (GBP) plunges over 100 pips or 0.90% against the Greenback at the beginning of the week, driven by recession fears and hopes cut short that the White House could reconsider their position in trade policies over the weekend. The GBP/USD pair trades at 1.2763 after hitting a daily high of 1.2933.

Risk aversion keeps the Greenback bid on Monday. News that the White House is mulling a 90-day pause in tariffs for all nations except China, revealed by CNBC, triggered a recovery in GBP/USD, which was short-lived as Trump stated that he “did not say this.” Additionally, CNBC revealed that it was “fake news.” Read more...

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FXStreet Team

FXStreet

EUR/USD weakens toward 1.1600 as firm US data revives the US Dollar

The EUR/USD edged lower on Thursday, down some 0.21% as market sentiment remains risk averse due to the ongoing conflict in the Middle East. This and solid US economic data pushed the pair lower towards the 1.1600 figure ahead of Friday’s session.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

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NYSE parent Intercontinental Exchange partners with OKX, invests at a $25B valuation

OKX announced an investment from Intercontinental Exchange, raising its valuation to $25 billion, alongside a partnership to expand regulated crypto futures and tokenized equity offerings globally.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.