The Pound Sterling (GBP) trades in a tight range around 1.3300 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair tracks a rangebound US Dollar as investors await the announcement of Federal Reserve (Fed) Governor Adriana Kugler's replacement, which should happen sometime this week after she announced her resignation on Friday.
At the time of writing, the US Dollar index (DXY), which tracks the Greenback's value against six major currencies, wobbles around 98.80.
On Tuesday, US President Donald Trump said to reporters that he will announce Fed Kugler's replacement by the end of the week. Market experts believe that the entry of Trump's candidate into the Federal Open Market Committee (FOMC) would be unfavorable for the Fed's independence as its decisions could be biased toward Trump's economic agenda.
"Kugler's resignation allows the president to further shape the FOMC (Federal Open Market Committee) in his own image," analysts at Harris Financial Group said, Reuters reports.
Meanwhile, US President Trump confirmed in an interview with CNBC on Tuesday that Treasury Secretary Scott Bessent won't be the successor of Fed Chair Jerome Powell and that he has narrowed the list of potential candidates to four, including White House economic adviser Kevin Hassett and former Fed Governor Kevin Warsh. "We're also looking at the Fed chair, and that's down to four people right now, two Kevins and two other people," Trump said.
Source: FXstreet
GBP/USD fell again for a second session and is now trading around 1.3250 in the Asian session on Wednesday morning. The pound weakened after data from the British Retail Consortium (BRC) showed food p...
The pound sterling (GBP) exchange rate against the US dollar (USD) has continued to weaken for the fifth consecutive day and is now trading around 1.3340 in the Asian session on Thursday (October 23rd...
The British pound fell to around $1.34, its lowest in a week, after data showed the UK government borrowed £7.2 billion more than forecast in the first half of the fiscal year, underscoring the tough ...
The British Pound (GBP) advances sharply against the US Dollar (USD) on Wednesday, with GBP/USD climbing to a one-week high, reaching its strongest level since September 24, as the Greenback remains u...
GBP/USD caught a slight lift on Tuesday, creeping into the 1.3450 region and tilting into a third straight bullish session. United Kingdom (UK) Gross Domestic Product (GDP) growth figures beat expecta...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This...
The S&P 500 rose on Monday, led by tech, as a new month of trading began. The benchmark gained 0.5%, while the Nasdaq Composite advanced 1%. The Dow Jones Industrial Average climbed 18 points. Micron Technology gained 5% to lead chipmaker...
Gold prices held near $4,000 an ounce after a weak start on Monday, as China ended long-standing tax breaks for some retailers. This change could weigh on demand in one of the world's largest precious metals markets. Gold bullion prices for...
Asian stock markets moved mixed on Monday, November 3, 2025. Japan led the gains: the Nikkei 225 remained near its record high of around 52.4...
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who...