The GBP/USD pair gains ground around 1.3605 during the Asian trading hours on Thursday. The Greenback softens against the Pound Sterling amid the prospects for more interest rate cuts by the Federal Reserve (Fed) this year.
Traders await the US weekly Initial Jobless Claims data later on Thursday. Also, the Federal Reserve (Fed) officials are scheduled to speak, including Alberto Musalem, Christopher Waller and Mary Daly.
US President Donald Trump on Monday warned trading partners of sharply higher US tariffs from August 1, after he delayed all but 10% of his April levies on most countries to give them time to strike agreements with the US.
US Deputy Treasury Secretary Michael Faulkender remarked on Wednesday that even if tariffs were implemented, discussions may continue beyond the August deadline. Nonetheless, tariff uncertainty triggered by Trump could undermine the US Dollar (USD) and create a tailwind for the major pair.
Most participants at the Fed's meeting saw some reduction in the Fed funds rate this year as appropriate, citing that any price shock from tariffs was expected to be "temporary or modest," according to the FOMC Minutes.
After the FOMC Minutes were published, traders pared their bets on a rate cut at the Fed's July 29-30 meeting, with rate futures continuing to point to 50 basis points (bps) of cuts by the end of this year, according to Reuters.
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...
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 gain traction in the American session. Although...
United States (US) President Donald Trump and his administration have formally asked the federal appeals court to pause a federal order that would allow Lisa Cook to remain at her post at the Federal Reserve (Fed) pending an official probe into...
Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs data outweighed August's Consumer Price Index...
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...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of...