Pound Sterling Price News and Forecast: Soars as speculation over Hassett fuels Fed-pivot bets

FXStreet Team FXStreet

GBP/USD soars as speculation over Hassett fuels Fed-pivot bets

GBP/USD rallies on Wednesday during the North American session, surpasses the 1.3300 figure as market participants priced in a more dovish Federal Reserve as rumors grow that the White House economic adviser Kevin Hasset could become the next Chair taking Powell’s rein. Read More...

Pound Sterling outperforms US Dollar ahead of US ADP Employment data

The Pound Sterling (GBP) trades 0.5% higher to near 1.3280 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair gains as the US Dollar faces selling pressure amid firming speculation that White House Economic Adviser Kevin Hassett could replace Jerome Powell as the next Federal Reserve (Fed) chairman. Read More...

GBP/USD edges higher above 1.3200 as Fed rate cut bets pressure US Dollar

The GBP/USD pair gains traction to near 1.3235 during the early European session on Wednesday. The US Dollar (USD) remains weak against the Pound Sterling (GBP) amid growing expectations that the US Federal Reserve (Fed) will deliver a 25 basis points (bps) interest rate cut at its upcoming meeting next week. Read More...

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EUR/USD gains ground above 1.1800 ahead of Eurozone HICP release

The EUR/USD pair trades on a firmer note near 1.1830 during the early European session on Wednesday. Nonetheless, the upside for the major pair might be limited as traders remain cautious after a partial government shutdown swiftly ended. Later on Wednesday, the preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be closely watched.

GBP/USD steadies above 1.3700 near nine-day EMA support

GBP/USD steadies after registering modest gains in the previous session, trading around 1.3700 during the Asian hours on Wednesday. The technical analysis of the daily chart points to a potential bearish reversal as the range narrows, indicating waning buyer momentum within a rising wedge pattern.

Gold rallies further beyond $5,050 amid flight to safety, dovish Fed expectations

Gold attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety. Concerns over rising tensions between the US and Iran resurfaced following overnight reports that the US shot down an Iranian drone in the Arabian Sea.

Bitcoin, Ethereum and Ripple extend free fall amid broad market sell-off

Bitcoin, Ethereum, and Ripple remain under pressure so far this week amid the broader market sell-off. BTC reached its lowest level since early November 2024 at $72,945. ETH and XRP, following BTC's lead, extended their losses, with ETH hitting a seven-month low while XRP also slid amid sustained selling pressure.

Gold and silver recovery continues, but equities sink as tech is shunned

The risk recovery is on pause as we move through Tuesday. After signs that a recovery in precious metals could boost overall risk appetite earlier today, a nasty sell off in tech stocks has pushed the Nasdaq and the S&P 500 down by 1.7% and 1.1% respectively.

Solana Price Forecast: SOL drops below $100 as bears tighten grip

Solana (SOL) trades below $100 at press time on Wednesday, after taking a more than 6% hit the previous day as the broader cryptocurrency market slipped. Institutional and retail demand for Solana continues to decline, while on-chain data shows a record 150 million daily transactions on Tuesday.