The Pound Sterling (GBP) bounces back to near 1.2800 against the US Dollar (USD) in Tuesday's European session from over a month's low of 1.2708 posted on Monday.
The GBP/USD pair recovers as the US Dollar resumes its downside move after a short-lived recovery in the last two trading days. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, tumbles to near 102.90.
The Greenback remains on the backfoot as traders have become increasingly confident that the Federal Reserve (Fed) could reduce interest rates earlier this year to offset fears of potential United States (US) economic recession.
According to the CME FedWatch tool, traders are almost certain that the central bank will resume its monetary policy easing cycle in the June policy meeting, which it paused in January.
The imposition of reciprocal tariffs by US President Donald Trump and fears of countermeasures by China and the Eurozone have stemmed the risks of a recession in the US.
Investment banking firm Goldman Sachs has raised the probability of the US entering a recession to 45% from 35%, as anticipated last week.
Source: FXStreet
Gold prices rose sharply again on Tuesday (January 20th), hitting a new record, breaking through the psychological barrier above $4,700 per ounce. This rise was driven by a "flight to safety" as geopo...
GBP/USD strengthened to around 1.3480 at the start of Friday's Asian session, holding above 1.3450. This strengthening occurred as the US dollar weakened again, as markets became increasingly confiden...
The GBP/USD exchange rate moved steadily around 1.3465 in early Asian trading on Wednesday (December 31). This relatively calm movement occurred because trading volume was expected to be thin ahead of...
The British Pound (GBP) softens against the US Dollar (USD) on Wednesday, with the Greenback finding mild support amid reduced liquidity during the shortened US holiday session. At the time of writing...
Pound Rebounds, UK Data Determines GBP/USD strengthened after three consecutive days of declines. In Monday's Asian session, the pair traded around 1.3394, approaching the 1.3400 level, ahead of the ...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...