Pound Sterling Price News and Forecast: GBP/USD retraces its recent losses

FXStreet Team FXStreet

GBP/USD inches higher to around 1.2620, US market will observe the Presidents’ Day holiday

The GBP/USD trends upwards as the US Dollar (USD) experiences downward pressure, influenced by market sentiment leaning towards the anticipation of a Federal Reserve rate cut in the upcoming March meeting. This sentiment was reinforced when former Fed official James Bullard suggested at the National Association for Business Economics (NABE) conference that the Fed should consider lowering interest rates to prevent hindering economic activity due to higher rates. During Asian trading hours on Monday, the GBP/USD pair trades higher around 1.2620.

Furthermore, UK housing data indicated an improvement annually in domestic property prices, which may have provided some support to the GBP/USD pair. The UK Rightmove House Price Index (YoY) saw an increase of 0.1% in February compared to the previous decline of 0.7%. However, the monthly report showed a contraction, with February's growth at 0.9% compared to the previous rise of 1.3%. Read more...

GBP/USD Weekly Forecast: Can Pound Sterling stage a steady rebound?

The Pound Sterling (GBP) continued to remain in the back seat against the US Dollar (USD), as GBP/USD extended its bearish momentum into the fifth week in a row.

The price action around the GBP/USD pair was mainly driven by a host of top-tier economic data releases from the United States (US) and the United Kingdom (UK), which helped reprice the markets’ expectations of a dovish policy pivot by the US Federal Reserve (Fed) and the Bank of England (BoE). Read more...

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FXStreet

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.