Pound Sterling Price News and Forecast: GBP/USD weakens as safe-haven demand lifts the USD

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Pound Sterling declines as US Dollar gains on increased risk aversion

GBP/USD depreciates after registering modest gains in the previous session, trading around 1.3300 during the Asian hours on Monday. The pair weakens as the US Dollar (USD) gains on safe-haven demand amid escalating Iran war with no clear resolution in sight.

Mojtaba Khamenei was named Iran’s new supreme leader just over a week after his father, Ayatollah Ali Khamenei, was killed in US-Israeli strikes, signaling that hardliners remain firmly in control of the country. Last week, US President Donald Trump said the appointment would be “unacceptable” and suggested that Washington should have a role in selecting Iran’s next supreme leader. Read more...

GBP/USD Weekly Forecast: Pound under pressure as Middle East war boosts Dollar

The Pound Sterling (GBP) hit the lowest level in three months against the US Dollar (USD) near 1.3250 and staged a modest rebound, but ended the week deep in the red. It was all about turning to the safe-haven and the world’s reserve currency, the USD, this week as the United States-Israel attack on Iran set off a deeper escalation in the Middle East and rattled global markets.

The conflict deepened after the Israel Defense Force (IDF) struck Hezbollah targets in Beirut and across Lebanon in response to rocket fire. Meanwhile, the UK Defence Ministry stated that British forces responded to a suspected drone strike at its military base in Cyprus. US President Donald Trump said that attacks would continue until US objectives were met, pledging to respond to an attack on the US embassy in Riyadh and to the deaths of US military personnel during the Iran conflict. Read more...

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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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.