Pound Sterling gains traction against softer USD; eyes US CPI report for fresh impetus
The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday and stalls the previous day’s retracement slide from the 1.3485 region, or over a one-week high. Spot prices currently trade around the 1.3430 region, up 0.10% for the day.
Crude Oil prices retreated sharply following a massive rally early this week and eased inflationary concerns. This, along with a generally positive tone around the equity markets, weighs on the safe-haven US Dollar (USD), which, in turn, is seen as a key factor acting as a tailwind for the GBP/USD pair. Read more…
GBP/USD advances past 1.3450 on soft USD despite Mid-East tensions
The Pound Sterling (GBP) posts modest gains on Tuesday during the North American session as the Greenback remains weaker even though tensions in the Middle East remain high, despite US President Trump’s comments that the end of the war is near. At the time of writing, GBP/USD trades at 1.3467 after hitting a daily high of 1.3483.
Market mood improved with US equities aiming higher, as investors remain confident that US President Donald Trump would end the war, even though Iran’s new regime reaffirmed they’re not looking for a truce. In the meantime, hostilities notched a level up as the Pentagon said that they’re conducting the most intense day of attacks against Iran and won’t give up until the Islamic Republic is defeated, as read in a Bloomberg article. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-regains-positive-traction-after-an-overnight-pullback-202603110503
