GBP/USD fell on Monday, cutting further to the lower side and adding to short-term losses as Pound bulls took a breather. Losses were contained in early week trade; however, fresh tariff threats from US President Donald Trump have dented investor risk appetite, curbing upside market flows and sparking a renewed push to avoid risk on the US Dollar.
The Trump administration went into overdrive this week, delaying its self-imposed July 9 deadline to restart the broad reciprocal tariffs that were initially announced and then quickly postponed in early April. Despite another change to the "firm" deadline for tariffs from the Trump team, President Trump has announced a number of additional new tariffs, adding double-digit tariff rates that will take effect on April 1 alongside the suspended reciprocal tariffs.
Economic data remains fairly limited this week. Market focus will be on trade war rhetoric from the Trump administration, although the latest Federal Reserve (Fed) Meeting Minutes, due out on Wednesday, will be of interest to traders looking to gauge how close (or far) the Fed is to cutting interest rates. (alg)
Source: FXstreet
GBP/USD rebounds from session lows and trades marginally higher on the day above 1.3550. The renewed selling pressure surrounding the USD following the inflation and Jobless Claims data help the pair ...
GBP/USD tested the 1.3550 area again for the fourth consecutive day on Wednesday, but has so far been unable to break higher. The market is likely to remain cautious ahead of the release of US consume...
The British pound (GBP) traded higher against other major currencies, except for the Antipodean currencies, on Wednesday. The British currency showed strength as market sentiment remained optimistic a...
The British pound (GBP) continued its strengthening against the US dollar (USD) for the third trading day on Tuesday. The GBP/USD pair reached a new three-week high around 1.3580 during the European t...
The pound was virtually unchanged on Monday (September 8th), after posting its biggest one-day rally against the dollar in two weeks on Friday, following surprisingly weak US jobs data that had reinfo...
Gold prices continue to approach $3,650 per ounce and are poised for a fourth weekly gain. This was fueled by expectations that the Federal Reserve will cut US interest rates, as inflows into gold-backed ETFs increased. Silver also rallied,...
Hong Kong shares surged 375 points, or 1.4%, to 26,405 on Friday morning's trade, reversing losses in the prior session and hitting their highest in over four years. The rally was broad-based, tracking a global rally after Wall Street's S&P 500...
The US dollar weakened on Friday after a surge in jobless claims and a moderate rise in inflation made markets increasingly confident that the Fed would cut interest rates next week—and possibly further thereafter. The dollar index stood at 97.585,...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...