Pound Sterling Price News and Forecast: GBP/USD weakens to around 1.3425

FXStreet Team FXStreet

GBP/USD declines below 1.3450 ahead of BoE’s Ramsden speech

The GBP/USD pair attracts some sellers to near 1.3425 during the early Asian trading hours on Tuesday, pressured by a modest rebound of US Dollar (USD). Investors await a speech by Bank of England (BoE) official Dave Ramsden for fresh impetus.

The Greenback strengthens against the Pound Sterling (GBP) as the fears of trade tensions ease. China exempted some US imports from its 125% tariffs on Friday, raising hopes that the trade war between the US and China is nearing an end, although China quickly knocked down US President Donald Trump's assertion that trade talks between the two countries were underway. Read more...

GBP/USD rallies and hovers near 1.3400 amid US Dollar weakness

The Pound Sterling begins the week positively set to end April strong, is up 0.65% as the Greenback continues to weaken and risk appetite improves. At the time of writing, the GBP/USD trades near 1.3400 after bouncing off daily lows of 1.3279.

Wall Street trades with gains, a headwind for the appetite for haven assets like the US Dollar. A scarce economic docket in the US and Federal Reserve officials entering the blackout period ahead of the May meeting keep traders leaning toward the release of UK data. The CBI in the UK revealed that Retail Sales in April came negatively yet improved from -41 in March to -8, its highest reading since October. Read more...

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EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.