Pound Sterling Price News and Forecast: GBP/USD weakens to near 1.3480 on Wednesday

FXStreet Team FXStreet

GBP/USD Price Forecast: Keeps bullish vibe, first upside target emerges above 1.3550

The GBP/USD pair attracts some sellers to around 1.3480 during the Asian trading hours on Wednesday. The Greenback strengthens against the Pound Sterling (GBP) on the economic signs in the United States (US).

Data released by the Conference Board on Tuesday showed that the US Consumer Confidence Index rose to 98.0 in May from 86.0 (revised from 85.7). The Minutes of the Federal Open Market Committee (FOMC) will take center stage later on Wednesday. Read more...

GBP/USD: Poised to buckle under the weight of its own success?

GBP/USD pared recent gains on Tuesday, snapping a six-day win streak and knocking price action away from the 1.3600 handle after the pair tapped fresh multi-year highs this week. Another tariff-talk-fueled upswing in broad-market investor sentiment bolstered the US Dollar (USD), sparked by the Trump administration once again stepping back from its own tariff threats.

The Bank of England (BoE) is looking less likely to deliver as many rate cuts as many had expected earlier in the year, helping to bolster the Pound Sterling into its highest prices against the Greenback since early 2022. Further appearances from BoE policymakers are expected over the rest of the week, but the narrative is not expected to change much. Read more...

GBP/USD eases from three-year high as US Dollar steadies on trade hopes

The British Pound (GBP) edges lower against the US Dollar, retreating from a three-year high, with the GBP/USD pair trading around 1.3510 during the American session on Tuesday.

The mild correction in spot prices comes as the US Dollar found footing on renewed trade optimism between the US and the EU. Hopes of a breakthrough in tariff negotiations between Washington and Brussels have lifted risk sentiment, lending modest support to the Greenback after weeks of pressure from fiscal concerns and a cautious Federal Reserve (Fed) stance. Read more...

Author

FXStreet Team

FXStreet

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.

AUD/USD sticks to neutral bias above 0.7100 amid cautious markets

AUD/USD holds steady above 0.7100 in the Asian session on Monday as the US Dollar stalls its modest pullback from the highest level since late July amid persistent geopolitical uncertainties. The PBOC status quo on Loan Prime Rates also weighs on the Aussie. However, bets on another RBA rate hike continue to underpin the Australian Dollar ahead of the Trump-Xi Summit.

USD/JPY eases below 157.00 amid looming intervention risks

USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.

Gold meets resistance around $4,400

Gold kicks in the new trading with on the back foot, keeping its trade near $4,350 per troy ounce. The precious metal’s correction comes on the back of the firmer US Dollar and espite declining US Treasury yields across the curve.

Bitcoin hits $85,000 for the first time in eight months

Bitcoin price reclaims $85,000 on Monday, advancing last week’s 5% recovery toward an eight-month high. The recovery in King Crypto aligns with renewed institutional demand, with Exchange Traded Funds (ETFs) recording $433 million in inflows on Friday.

The week ahead: Fuel prices in focus as we lead up to key eco releases

Financial markets are in a strange position as we move to the final weeks of Q3, uncertainty and volatility continue to grip markets, but the oil price is falling; and European and US stocks are poised to open higher later on Monday. Market stresses are concentrated in sovereign bonds, and European and US yields had another scare late on Friday, and moved higher.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.