GBP/USD softens to around 1.2390 in Monday's Asian session, losing 0.14% on the day.
Trump said he will announce reciprocal tariffs on many countries this week.
BoE's Bailey reiterated that a "gradual and careful approach to monetary policy remains appropriate."
The GBP/USD pair weakens to near 1.239 during the Asian trading hours on Monday. The US Dollar climbs after US President Donald Trump promised reciprocal tariffs. The release of the US Consumer Price Index (CPI) for January will take center stage later on Wednesday.
Trump said on Friday that he would announce reciprocal tariffs on Tuesday or Wednesday on countries that tax US imports, with them going into effect 'almost immediately'.
Tariffs on UK goods exported to the US may still be on the cards, though Trump has said a deal "can be worked out." Traders will closely watch the developments surrounding more tariff policies from Trump. Any signs of escalating trade war tensions could boost the safe-haven USD.
The expectation of further rate cuts by the Bank of England (BoE) could undermine the Pound Sterling (GBP). BoE Governor Andrew Bailey said that additional rate reductions should be expected but that "we will have to judge meeting by meeting how far and how fast.". Bailey added during the press conference that economic activity is weakening and the jobs market is slowing down. Markets are currently pricing in another 50 basis points (bps) of cuts in 2025.(Cay) Newsmaker23
Source; Fxstreet
GBP/USD sank again on Thursday, falling for a sixth straight session and dragging the Pound Sterling (GBP) down nearly 3% top-to-bottom from last week's peak near 1.3588. Cable is getting dragged back...
GBP/USD sank for a fifth straight session on Wednesday, falling as the US Dollar (USD) catches a broad-market bid after the Federal Reserve (Fed) held rates steady and stuck to its stubborn wait-and-s...
GBP/USD found some balance on Tuesday, pumping the brakes on an extended backslide but falling just short of snapping its losing streak. The Cable pair caught an intraday technical rebound near the 1....
The Pound Sterling (GBP) holds onto losses near its two-month low around 1.3350 against the US Dollar (USD) during the European session on Tuesday. The GBP/USD pair faces selling pressure as the US Do...
The British pound (GBP) weakened near 1.3400 against the US dollar (USD) at the start of the week. The GBP/USD pair weakened as the US dollar attracted buying interest following the announcement of a ...
The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially...
Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude futures settled at $69.67 a barrel, down $2.03,...
The yen has suffered a difficult month, but BCA Research thinks the Japanese currency is primed for a multi-year rally. At 08:30 ET (12:30 GMT), USD/JPY traded 0.2% lower at Y150.49, having earlier in the session climbed as high as Y150.91, the...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.6% in...
US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend...
The STOXX 50 dropped 1.1% and the STOXX 600 declined 0.8% on the first trading day of August, which coincided with the deadline for countries to...
According to a report from the US Department of Labor (DOL) released on Thursday, the number of Americans filing new applications for unemployment...