Pound Sterling Price News and Forecast: GBP/USD dips on strong US data approach 1.2800

FXStreet Team FXStreet

GBP/USD Price Analysis: Dips on strong US data approach 1.2800

The Pound Sterling dropped early during the North American session after economic data from the United States (US) came stronger than expected, highlighting a modestly tight labor market. Therefore, the GBP/USD edges down some 0.20% and trades at 1.2827 after hitting a daily high of 1.2866. Read More...

Pound Sterling slides amid uncertainty ahead of Fed/BoE interest rate meetings

The Pound Sterling (GBP) exhibits a weak performance against its major peers, except the Japanese Yen, on Tuesday. The British currency weakens as market speculation for the Bank of England (BoE) to begin reducing interest rates from the August meeting, which will be announced on Thursday, has improved further. Trades see a little over 58% chance that the BoE will cut its key borrowing rates by 25 basis points (bps) to 5%, Reuters reported. Read More...

GBP/USD remains depressed around mid-1.2800s, holds above multi-week low set on Monday

The GBP/USD pair struggles to capitalize on the overnight goodish recovery from the vicinity of the 1.2800 round figure or a nearly three-week low and attracts some selling during the Asian session on Tuesday. Spot prices currently trade with a negative bias around mid-1.2800s amid a modest US Dollar (USD) strength, though the fundamental backdrop warrants caution for bearish traders. Read More...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD clings to small gains near 1.1750

Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.

GBP/USD edges higher toward 1.3400 ahead of US data and BoE

GBP/USD reverses its direction and advances toward 1.3400 following a drop to the 1.3350 area earlier in the day. The US Dollar struggles to gather recovery momentum as markets await Tuesday's Nonfarm Payrolls data, while the Pound Sterling holds steady ahead of the BoE policy announcements later in the week.

Gold pulls away from session high, holds above $4,300

Gold loses its bullish momentum and retreats below $4,350 after testing this level earlier on Monday. XAU/USD, however, stays in positive territory as the US Dollar remains on the back foot on growing expectations for a dovish Fed policy outlook next year.

Solana consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout. On the institutional side, demand for spot Solana Exchange-Traded Funds remained firm, pushing total assets under management to nearly $1 billion since launch.

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.