Pound Sterling Price News and Forecast: GBP/USD nears seven-week high as US elections weaken USD, BoE looms

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British Pound nears seven-week high as US elections weaken USD, BoE looms

The Pound Sterling (GBP) rallies to a seven-week high against the US Dollar (USD) on Wednesday after the US midterm elections, in which the Democrats are poised to win the US House of Representatives and the US Senate. This is a hard blow for US President Donald Trump, who congratulated the Democrats and hinted at openness to negotiate with them. At the time of writing, GBP/USD trades near 1.3500, up 0.55%. Read More...

British Pound extends rally as Republicans lose both US Houses

The British Pound (GBP) posts a fresh seven-week high at around 1.3500 against the US Dollar (USD) in the European trade on Wednesday. The GBP/USD pair strengthens as the victory of United States (US) Democrats in both houses of Federal law has weighed heavily on the US Dollar. Read More...

British Pound nears 1.3500 against US Dollar amid Trump's defeat in US midterms

The British Pound (GBP) accelerated its rally against a weak US Dollar (USD) on Wednesday, boosted by news that the Democrats took control of the House and the Senate in the US midterm elections held on Tuesday. The GBP/USD has appreciated 0.5% on the day so far, reaching seven-week highs above 0.3480 at the time of writing. Read More...

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AUD/USD consolidates gains just above 0.7000

AUD/USD rebounds sharply and manages to reclaim the area beyond the 0.7000 threshold on Wednesday. Indeed, the pair sets aside two daily drops in a row and regains balance on the back of the marked pullback in the Greenback as investors keep assessing the results from the US Midterms elections.

USD/JPY declines below 158.00 as USD weakens on midterm election results

USD/JPY comes under heavy selling pressure on Wednesday, dropping below 158.00 during the Asian session as the US Dollar slumps to a one-month low amid heightened political uncertainty after early US midterm vote counts. Moreover, the prospect of gridlock in Washington drives safe-haven flows, triggering a fresh leg down in US bond yields and further weighing on the buck.

Gold pops to four-day highs near $4,050

Gold manages to regain some composure, leaving behind two consecutive daily pullbacks and reclaiming the area above the key $4,000 mark per troy ounce on Wednesday. The strong decline in the US Dollar, shrinking US Treasury yields across the curve and lower crude oil price all contributes to the yellow metal’s recovery.

Bitcoin and Gold Outlook: BTC tops $80K, XAU reclaims $4,000 as Democrats take control of Congress

Bitcoin (BTC) and Gold (XAU/USD) are gaining momentum on Wednesday, as bulls stage a comeback. BTC’s position above $80,000 signals a bullish turnaround, erasing sharp losses from the Binance hack, which impacted $6.3 billion. Meanwhile, Gold’s recovery above $4,000 could strengthen bullish sentiment after the United States (US) midterm elections.

US midterms 2026: Investor Q&A on the Democratic sweep

1. Gridlock replaces the stimulus narrative. A Democratic Congress would constrain Trump's ability to pursue additional fiscal expansion and legislative tax measures. But it cannot simply reverse the president's entire economic agenda. Executive powers, existing legislation and presidential vetoes remain important. 2. AI faces a higher hurdle, not an extinction event.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.