GBP/USD holds steady near 1.3750, US ADP Employment data in focus
The GBP/USD pair trades on a flat note near 1.3745 during the Asian trading hours on Wednesday. However, the dovish remarks from the US Federal Reserve (Fed) Chair Jerome Powell and rising fiscal worries might weigh on the Greenback in the near term. Investors await the US ADP Employment Change report for June for fresh impetus, which is due later on Wednesday.
The Fed’s Powell said on Tuesday that the US central bank will take a patient approach to further interest rate reductions but didn’t rule out a rate cut at the July meeting, but the decision will depend on incoming data. According to the CME FedWatch tool, short-term interest-rate futures are now pricing in nearly a one-in-four odds of a rate cut by the July meeting after the dovish comments, up from less than one-in-five earlier. Read more…
GBP/USD teases new highs as Greenback pummeling continues
GBP/USD poked into its highest bids in 45 months on Tuesday, knocking a few inches closer to four-year highs as the US Dollar’s broad-market pummeling continues unabated. Lopsided trade policies, further aggravated by public musings about steep tariffs by President Donald Trump are keeping Greenback bidders on the ropes as counter-currencies continue to grind into multi-year highs.
Economic data and appearances by central bank heads took a backseat to trade and budget concerns on Tuesday. The US Senate has finally passed some version of President Trump’s “big, beautiful budget bill”, which now heads to the US House of Representatives for a final pass and another vote. Trump, who campaigned on eliminating the US’s federal deficit overhang, is poised to write his spending bill into law, which will add trillions of dollars to the US debt load over the next decade. Read more…
GBP/USD eases from 3-year high as BoE turns dovish, US data beats
The Pound Sterling (GBP) loses ground versus the US Dollar after hitting a new three-year peak of 1.3788, just shy of the 1.3800 figure. Economic data from the United States (US), along with dovish comments of the Bank of England’s (BoE) Governor Bailey, exerted downward pressure on the pair. The GBP/USD trades at 1.3721, down a minimal 0.07%.
Market mood turned slightly negative. The latest JOLTS report revealed that job openings in May rose to their highest level since November, reaching 7.769 million, up from 7.391 million, and exceeding forecasts of 7.3 million. At the same time, the Institute for Supply Management (ISM) reported that business activity in June increased, although it contracted for the fourth consecutive month. The index rose by 49.0, up from 48.5 in May, above estimates of 48.8. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-flat-lines-to-around-13745-on-wednesday-202507020521