Pound Sterling Price News: GBP/USD strengthens as the US Dollar loses ground

FXStreet Team FXStreet

GBP/USD climbs above 1.3500 as US Dollar weakens ahead of ISM Services PMI

GBP/USD gains some ground after registering modest gains in the previous session, trading around 1.3510 during the Asian hours on Wednesday. The pair edges higher as the US Dollar (USD) struggles ahead of the US ISM Services Purchasing Managers’ Index (PMI) and JOLTs job openings due later in the day.

Fed Governor Stephen Miran said on Tuesday that the US central bank should cut interest rates aggressively this year to sustain economic momentum. Meanwhile, Minneapolis Fed President Neel Kashkari, a voter on the Fed's rate-setting committee, cautioned that the unemployment rate could “pop” higher. Read more...

GBP/USD consolidates around 1.3500; looks to US macro data for fresh impetus

The GBP/USD pair oscillates in a narrow range, around the 1.3500 psychological mark during the Asian session on Wednesday, and for now, seems to have stalled the previous day's retracement slide from its highest level since September 18. Moreover, the fundamental backdrop seems tilted in favor of bullish traders and suggests that the path of least resistance for spot prices is to the upside.

The US Dollar (USD) preserves the overnight gains, though it lacks bullish conviction on the back of dovish US Federal Reserve (Fed) expectations and ahead of a host of key macroeconomic indicators. Apart from this, the prevalent bullish sentiment across the global equity markets undermines demand for the safe-haven Greenback, which, in turn, is seen as a key factor acting as a tailwind for the GBP/USD pair. Read more...

GBP/USD slides below 1.3550 as US Dollar rebounds despite soft US PMIs

The Pound Sterling (GBP) retreats on Tuesday after reaching a daily high of 1.3567 as the US Dollar (USD) stages a recovery despite posting weaker Purchasing Managers Index (PMI) data, and neutral Federal Reserve (Fed) officials' remarks. GBP/USD trades at 1.3519, down 0.15% at the time of writing.

Recently released US data by S&P Global revealed that economic activity is weakening, though at a moderate pace. The December Services PMI was 52.5, down from November's 52.9, while the Composite PMI index came at 52.7 for the same period, down from 53 registered in the previous month. Read more...

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GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD stays offered, breaks below 1.1400…again

EUR/USD adds to Tuesday’s slight losses and drops below the 1.1400 yardstick in the latter part of Wednesday’s NA session. The pair’s decline comes in response to the persistent recovery in the US Dollar, which seems to have met extra support following the cautious tone from Fed’s Warsh in his comments at the ECB Forum.

Gold retreats from tops, back to the sub-$4,100 zone

Gold keeps the bullish performance in place on Wednesday, although is now giving away part of its earlier advance past the $4,100 mark per troy ounce. The precious metal’s marked rebound comes despite the US Dollar’s bid bias, higher US Treasury yields across the curve and positive headlines from the Middle East.

A preview of NFP

The number is of much greater importance than usual as the Fed moves away from a forecasting framework and towards a current-data / rebuilding-credibility framework.

Crypto Today: Bitcoin, Ethereum, XRP stay under pressure as investors turn more risk-averse

The cryptocurrency market trades under intense headwinds on Wednesday, led by Bitcoin’s (BTC) deepening sell-off below $60,000. The Crypto King hovers above $58,000.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.