The British pound (GBP) surged higher to near 1.3330 against the US dollar (USD) during North American trading hours on Monday (05/05), rebounding from a fresh weekly low around 1.3260 earlier in the day. The GBP/USD pair moved higher as the US dollar (USD) faced strong selling pressure ahead of the Federal Reserve's (Fed) monetary policy decision, which is due to be announced on Wednesday.
According to the CME FedWatch tool, the market is almost fully pricing in the central bank to keep interest rates unchanged in the range of 4.25%-4.50%. Therefore, the main trigger for the US dollar will be the monetary policy direction by the Fed and its Chairman, Jerome Powell, for the remainder of the year.
Fed officials have stated that adjusting monetary policy would be appropriate only if they see cracks in the labor market and economy. However, the latest US Nonfarm Payrolls data for April showed a better-than-expected job growth trend despite President Donald Trump's tariff policies. Moreover, the Q1 Gross Domestic Product (GDP) data was not as bad as it seemed at first glance, as the contraction was driven by a strong increase in imports.
Source: FXStreet
The Pound Sterling (GBP) extends its winning streak for the fifth trading day against the US Dollar (USD) at the start of the week. The GBP/USD pair jumps to near 1.3480 due to the continued underperf...
The GBP/USD pair started the new week on a calm note, consolidating its relatively strong recovery from the 1.3140 area, its lowest level since April 14, reached earlier this month. Spot prices traded...
GBP/USD extended recent bullish momentum on Thursday, gaining over two-thirds of one percent on the day and climbing above key technical indicators as market rebalance both a weaker US Dollar (USD) an...
The GBP/USD surges during the North American session, though trading below an eight-day high reached at 1.3436 after the Bank of England (BoE) decided to cut interest rates on a close vote split, sign...
Sterling rose against a weakening dollar on Thursday with the markets watching whether the Bank of England will maintain its "gradual and careful" language on the pace of policy easing at its meeting ...
The EUR/USD edges lower on Monday, down 0.26% as the Greenback is bought by traders ahead of another inflation report in the United States (US) coming Tuesday. This, along with Italy's revelation that prices reached the European Central Bank's...
Gold price dives during the North American session as traders waited for the White House resolution on duties over physical Bullion bars, which triggered a downturn last Friday in the futures market. Traders awaiting the release of inflation data...
President Donald Trump on Monday delayed high U.S. tariffs on Chinese goods from snapping back into place for another 90 days, a White House official told CNBC. Those tariffs were set to resume Tuesday. But Trump signed an executive order hours...
U.S. President Donald Trump on Monday said he hopes China will "quickly quadruple" its soybean orders from American farmers, framing the move as a...
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the...
From McDonald's and Coca-Cola to Amazon and Apple, U.S.-based multinationals are facing calls for a boycott in India as business executives and...
Whatever happens at September's Federal Reserve meeting will pale in comparison to a wholesale rethinking of the U.S. central bank's design, a...