GBP/USD reaches new multi-year high above 1.3200

The Pound Sterling extended its gains and refreshed multi-year highs at around 1.3246 on Tuesday as the Greenback failed to recover following a surprisingly dovish tilt by Fed Chair Jerome Powell at his Jackson Hole speech. Investors increased their bets that the US central bank will lower rates at the September meeting, a tailwind for the GBP/USD. The pair exchanged hands at 1.3239 and is up by 0.40%. Read More…

The Pound Sterling (GBP) rises further above the round-level figure of 1.3200 to near 1.3240 against the US Dollar (USD) in Tuesday’s New York session. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, exhibits a subdued performance below the immediate resistance of 101.00. The GBP/USD pair is expected to take a breather after last week’s sharp increase, with investors looking for fresh cues about the likely size of the Federal Reserve (Fed) interest rate cut in September. Read More…

GBP/USD inches higher as concerns about an imminent broader conflict in the Middle East have diminished, top US General C.Q. Brown told Reuters early Tuesday, following the exchange of fire between Israel and Lebanon’s Hezbollah seen over the weekend. The risk-sensitive GBP/USD pair trades around 1.3190 during Tuesday’s Asian hours. Read More…