Pound Sterling clings to gains against US Dollar while Fed monitors tariff-impact on inflation
The post Pound Sterling clings to gains against US Dollar while Fed monitors tariff-impact on inflation appeared on BitcoinEthereumNews.com. The Pound Sterling shows strength near 1.3650 against the US Dollar after the announcement of the Israel-Iran ceasefire. Fed’s Powell states that the central bank still needs time to assess the impact of tariffs on inflation. BoE’s Bailey expresses concerns over easing labor market strength. The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3650 against the US Dollar (USD) during European trading hours on Wednesday. The GBP/USD pair strengthens as the US Dollar continues to underperform its peers, as its safe-haven demand has diminished significantly after the announcement of a ceasefire between Israel and Iran on Tuesday. During the European trading session, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, struggles to hold the weekly low around 98.00. On Tuesday, United States (US) President Donald Trump announced that a truce between Israel and Iran has become effective and urged them not to violate it. “The ceasefire is now in effect. Please do not violate it!” Trump wrote in a post on Truth Social. Meanwhile, the support for maintaining interest rates at their current levels by Federal Reserve (Fed) Chair Jerome Powell in his semi-annual testimony before the US House Financial Services Committee on Tuesday has failed to uplift the US Dollar. “I don’t think we need to be in any rush as long as economy is strong, and the uncertainty is high surrounding the still-unresolved tariff debate,” Powell said, Reuters reported. He guided that the central bank will closely monitor the “impact of tariffs on inflation during June and July” and expressed confidence that “interest rate cuts would come sooner if the central bank sees the tariff-driven inflation not as strong as expected.” Pound Sterling trades braodly stable while BoE’s Bailey warns of labor market risks The Pound Sterling seems…
The post Pound Sterling clings to gains against US Dollar while Fed monitors tariff-impact on inflation appeared on BitcoinEthereumNews.com.
The Pound Sterling shows strength near 1.3650 against the US Dollar after the announcement of the Israel-Iran ceasefire. Fed’s Powell states that the central bank still needs time to assess the impact of tariffs on inflation. BoE’s Bailey expresses concerns over easing labor market strength. The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3650 against the US Dollar (USD) during European trading hours on Wednesday. The GBP/USD pair strengthens as the US Dollar continues to underperform its peers, as its safe-haven demand has diminished significantly after the announcement of a ceasefire between Israel and Iran on Tuesday. During the European trading session, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, struggles to hold the weekly low around 98.00. On Tuesday, United States (US) President Donald Trump announced that a truce between Israel and Iran has become effective and urged them not to violate it. “The ceasefire is now in effect. Please do not violate it!” Trump wrote in a post on Truth Social. Meanwhile, the support for maintaining interest rates at their current levels by Federal Reserve (Fed) Chair Jerome Powell in his semi-annual testimony before the US House Financial Services Committee on Tuesday has failed to uplift the US Dollar. “I don’t think we need to be in any rush as long as economy is strong, and the uncertainty is high surrounding the still-unresolved tariff debate,” Powell said, Reuters reported. He guided that the central bank will closely monitor the “impact of tariffs on inflation during June and July” and expressed confidence that “interest rate cuts would come sooner if the central bank sees the tariff-driven inflation not as strong as expected.” Pound Sterling trades braodly stable while BoE’s Bailey warns of labor market risks The Pound Sterling seems…
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