Pound Sterling Price News & Forecast: GBP/USD loses ground after three days of gains

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British Pound falls as US Dollar receives from internal FOMC policy split

GBP/USD loses ground after three days of gains, trading around 1.3450 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) gains support from a hawkish pause by the Federal Reserve (Fed) and an internal FOMC policy split. Read more...

British Pound Sterling rallies on a hawkish vote the Bank of England immediately talked down

The Bank of England held Bank Rate at 3.75% for a fifth straight meeting on Thursday, and the Monetary Policy Committee (MPC) got there on a 6-3 vote, with three members backing an immediate quarter-point increase against a consensus that had looked for 7-2. GBP/USD trades above 1.3450, up 0.71%, roughly 130 pips above the European morning low short of 1.3350. The advance cut straight through the 50-day and 200-day Exponential Moving Averages (EMA), which have converged just below 1.3400 and have been advertising a range rather than defending one.

The dissent bloc grew by one from June, and the swing factor is not in dispute. Energy prices remain volatile and well above pre-conflict levels, June's Consumer Price Index (CPI) reading of 2.6% is expected to turn higher as those costs pass through, and the dissenters argue that the longer the shock persists, the greater the risk of second-round effects in wage and price setting. Read more...

British Pound surges on BoE hawkish hold, Yen intervention crushes USD

The Pound Sterling registers gains versus the US Dollar after the Bank of England decided to hold rates unchanged, in a 6-3 vote, while suspected intervention to propel the Japanese Yen weakened the Greenback against most G8 currencies. The GBP/USD trades at 1.3430, up 0.40%.

The foreign exchange markets are experiencing a volatile session as the USD/JPY pair tumbles by over 400 pips so far on Thursday. Consequently, the US Dollar Index (DXY), which tracks the performance of the American currency against six other currencies, collapses by over 0.60%, reaching a 30-day low. Read more...

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GBP/USD falls as US Dollar receives from internal FOMC policy split

GBP/USD loses ground after three days of gains, trading around 1.3450 during the Asian hours on Friday. The pair depreciates as the US Dollar gains support from a hawkish pause by the Federal Reserve and an internal FOMC policy split.

EUR/USD softens to near 1.1500 as US-Iran war widens

The EUR/ USD pair loses ground to near 1.1515 during the early Asian trading hours on Friday. The Euro softens against the US Dollar amid risk-off sentiment and fears of wider war in the Middle East. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone for July and the Michigan Consumer Sentiment Index will be released later on Friday.

Gold: Looks to snap four-month losing streak but sellers refuse to give up

Gold fails to hold above $4,100 once again as sellers return early Friday. The US Dollar rebounds on fresh US-Iran tensions and month-end profit-taking. Gold closed above $4,100 on Thursday, but the daily RSI remains below 50.

Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.