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 hovers around 1.1650 as RSI signals fading momentum

EUR/USD moves little after registering modest losses in the previous session, trading around 1.1650 during the Asian hours on Wednesday. The 14-day Relative Strength Index momentum indicator, currently at 40 (below the 50 midline), signals weak momentum without indicating oversold conditions.

GBP/USD trades higher ahead of key UK GDP data

The Pound Sterling gains against its major peers, except antipodeans, on Wednesday. The British currency trades higher ahead of the United Kingdom monthly Gross Domestic Product and factory data, which will be released on Thursday.

Gold stays near all-time highs near $4,650 as safe-haven demand rise

Gold reaches the fresh record high of $4,639.77 during the Asian hours on Wednesday. Precious metals, including Gold, attract buyers amid growing bets on Federal Reserve rate cuts following the softer inflation in the United States. US inflation data for December signaled easing underlying US inflation, strengthening views that price pressures are gradually cooling.

US Retail Sales expected to arrive moderately higher on Wednesday

The United States Census Bureau will publish November Retail Sales on Wednesday. The delayed data is expected to show that sales rose a modest 0.4% in the month, following no change in October. The figure is relevant as it corresponds most closely with the consumer spending component of Gross Domestic Product.

More pressure on the Federal Reserve emerges

News broke on Sunday night that the Federal Reserve received grand jury subpoenas from the Department of Justice on Friday, escalating the Trump administration's pressure on the nation's central bank.

Meme Coins Price Prediction: DOGE, SHIB, and PEPE rally, catching Bitcoin's second wind

Meme coins such as Dogecoin, Shiba Inu, and Pepe recorded gains of 7% to 14% on Tuesday, signaling a potential reversal to the upside. DOGE and SHIB hold steady after the bounce back while the frog-themed PEPE extends gains, signaling further upside potential.