GBP/USD extends rally to fresh six-month highs near 1.3250 ahead of UK CPI data
The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3250 during Wednesday’s Asian session. Earlier in the day, it touched a fresh six-month high at 1.3256. The pair has maintained strong momentum, boosted by improved global risk sentiment after US President Donald Trump announced exemptions for key technology products from his new “reciprocal” tariffs.
In the UK, labor market data showed on Tuesday that the unemployment rate held steady at 4.4% in February, in line with expectations. Wage growth, however, remained robust, maintaining pressure on the Bank of England (BoE). Read more...
GBP/USD hits 6-month high above 1.3200 as markets shun USD amid tariff turmoil
The Pound Sterling (GBP) rose and refreshed six-month highs against the US Dollar (USD) on Tuesday as the financial markets' narrative remains linked to the US imposing tariffs. Cable shrugged off soft United Kingdom (UK) jobs data; hence, GBP/USD rallied 0.36% and is trading at 1.3233.
Market mood remains positive, to the detriment of safe-haven currencies like the Greenback, which has depreciated over 5.34% during the last three weeks, according to the US Dollar Index (DXY). Read more...
Pound Sterling outperforms on strong UK employment data
The Pound Sterling (GBP) advances against its major peers, except antipodeans, on Tuesday after the release of the United Kingdom (UK) labor market data for three months ending February. The Office for National Statistics (ONS) reported that the economy added 206K fresh workers, significantly higher than the 144K recorded in three months ending January.
The agency reported that the ILO Unemployment Rate came in line with estimates and the prior release of 4.4%. The scenario of upbeat employment data is favorable for the British currency. However, financial market participants expect that employers could slow down their hiring process in the face of an increase in contributions to social security schemes starting in April. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD defends gains above 0.6400 as US Dollar finds fresh demand
AUD/USD is retreating from near YTD highs but defends minor bids above 0.6400 early Tuesday. Hopes that the US will start to announce some trade deals remain supportive of a positive risk tone and renewed US Dollar demand, capping the pair's upside.
USD/JPY bounces back to near 142.50 amid light trading
USD/JPY rebounds toward 142.50 in the Asian session on Tuesday as a positive risk tone undermines safe-haven assets such as the Japanese Yen while providing support to the US Dollar. However, the further upside appears elusive amid a Japanese holiday-led thin trading conditions.
Gold holds below $3,350 on firmer US Dollar, easing US-China trade tensions
Gold price loses ground to around $3,335 during the early Asian session on Tuesday. The yellow metal edges lower amid a modest rebound of the US Dollar and a softening in tensions between the United States and China.
Coinbase launches new Bitcoin Yield Fund, offering investors 4–8% annual returns
Coinbase Asset Management is set to launch a new institutional product designed to deliver sustainable bitcoin-denominated returns for investors outside the United States. The Coinbase Bitcoin Yield Fund aims to tap into over $1 trillion in bitcoin liquidity to offer annualized returns of 4% to 8%.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.