Pound Sterling Price News: GBP/USD jumps as China treasury rumors hit USD, UK politics cap gains

FXStreet Team FXStreet

GBP/USD jumps as China treasury rumors hit USD, UK politics cap gains

The Pound Sterling (GBP) posts solid gains versus the US Dollar (USD) on Monday as rumors emerged that China is asking to reduce exposure to US Treasuries, which weighed on the Greenback. Nevertheless, the pair remains capped by political turmoil in the United Kingdom (UK). At the time of writing, GBP/USD trades at 1.3659, up 0.41%. Read More...

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling (GBP) may weaken amid a fresh government crisis in the United Kingdom (UK). Downing Street Chief of Staff Morgan McSweeney has resigned, accepting responsibility for advising Prime Minister Keir Starmer on the appointment of Jeffrey Epstein-linked Peter Mandelson as US ambassador. Read More...

GBP/USD Price Forecast: Holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s (BoE) interest-rate cut weighs on the Pound Sterling (GBP) against the Greenback. 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 dips below 1.3350 with bullish momentum losing steam

The British Pound ticks lower against the US Dollar Monday, attempting to close a seven-day rally, as tensions rise again in the Strait of Hormuz, one of the critical points in the peace process between Washington and Tehran. The GBP/USD pair trades near 1.3340 at the time of writing, down from 1.3387 highs last week, although it maintains a near-term bullish trend intact.

EUR/USD drops toward 1.1400 as US Dollar rebounds

EUR/USD pair trades marginally lower, heading toward 1.1400 in the European session on Monday. The pair faces slight selling pressure as the US Dollar gains ground after a negative weekly close. Middle East concerns and the USD/JPY rally support the Greenback.

Gold hangs near daily low amid Hormuz risks; receding Fed hike bets limit losses

Gold recovers slightly from the daily low, albeit it retains the negative bias, and remains below a two-week high touched earlier this Monday. The US Dollar attracts some safe-haven flows amid tensions over the Strait of Hormuz and undermines the bullion. However, receding US Federal Reserve rate hike bets might hold back USD bulls from placing aggressive bets.

Dogecoin recovery stalls amid early signs of whale support

Dogecoin (DOGE) price nears $0.0770, maintaining a broadly consolidative tone for the last three days after Friday’s 4% rebound. The first-ever meme coin is losing retail interest as DOGE derivatives volume drops, while on-chain data shows early signs that large-wallet investors, commonly referred to as whales, are expanding their holdings.

Week ahead – ISM services PMI and Fed Minutes to shake Fed hike bets

The US dollar is finishing the week on the back foot against most of its major counterparts this week, losing the most ground against the kiwi, the franc and the pound. Despite the pullback, investors remained adamant in their view that the Fed may have to press the rate hike button before the turn of the year.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.