Pound Sterling Price News and Forecast: Renewed Iran tensions boost demand for the Greenback

FXStreet Team FXStreet

British Pound retreats as renewed Iran tensions boost demand for the Greenback

The British Pound (GBP) weakens against the US Dollar (USD) on Tuesday as traders reassess ongoing US-Iran negotiations following renewed US military action in southern Iran. At the time of writing, GBP/USD is trading around 1.3444, down nearly 0.43% on the day. Read More...

British Pound underperforms as UK gilt yields hit monthly low near 4.82%

The British Pound (GBP) trades lower against its major currency peers, is down 0.25% to near 1.3470 against the US Dollar (USD) during the European trading session on Tuesday. The British currency faces selling pressure as yields on United Kingdom (UK) gilt securities have declined significantly due to easing hopes of a near-term interest rate hike by the Bank of England (BoE). Read More...

British Pound softens below 1.3500 as renewed US-Iran tensions favour US Dollar

The GBP/USD pair loses ground to near 1.3495 during the early Asian session on Tuesday. The British Pound (GBP) softens against the US Dollar (USD) on weak underlying UK data and US-Iran peace deal uncertainty. The US April Personal Consumption Expenditures (PCE) Price Index report will be the highlight later on Thursday. 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.

GBP/USD surrenders some gains, back to 1.3420

GBP/USD holds on to moderate gains above 1.3400 the figure on Friday. Optimism surrounding the UK government’s leadership transition and expectations of further BoE tightening support the British Pound, while easing tensions in the Middle East and fading Fed rate-hike expectations weigh on the US Dollar.

EUR/USD turns positive, targets 1.1450

EUR/USD now picks up pace and advances toward the 1.1440 region on Friday, up modestly for the day. With no major economic data due, lingering uncertainty over the US-Iran conflict keeps investors cautious, limiting the pair's upside.

Gold remains offered, still below $4,100

Gold struggles to extend Thursday’s rebound and navigates below the $4,100 mark per troy ounce on Friday. Uncertainty surrounding the Middle East conflict limits the precious metal’s upside, which is also under pressure amid rising US Treasury yields across the curve.

Week ahead – US CPI and Warsh testimony to take centre stage, BoC eyed too

US inflation report and Warsh testimony to headline the week. Dollar to dominate amid slew of other US data and Mideast tensions. Amid fresh Iran escalation, China GDP to shed light on Q2 impact. Bank of Canada not expected to follow RBNZ with rate hike.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June Federal Open Market Committee meeting landed mid-round-trip, describing a world that had already stopped existing.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June FOMC meeting landed mid-round-trip, describing a world that had already stopped existing.