#british pound

The post British Pound slips as Hormuz attacks revive USD demand appeared on BitcoinEthereumNews.com. The Pound Sterling (GBP) retreats against the US Dollar (USD) on Tuesday as tensions in the Middle East rise, following reports of attacks on two ships in the Strait of Hormuz. The GBP/USD pair trades at 1.3373, down 0.11%. GBP/USD falls as Oil spike lifts Fed hike worries The Greenback remains steady after the Islamic Revolutionary Guard Corps (IRGC) attacked ships that attempted to pass through the Omani route, ignoring the IRGC’s repeated warnings. These developments underpinned Oil prices and consequently the US Dollar, as high energy prices could force the US Federal Reserve (Fed) to raise interest rates. The US Dollar Index (DXY), which measures the buck’s performance against six currencies, is up 0.05% at 100.93. Data from the US showed that the trade deficit widened in May, driven by a jump in imports and a decline in exports. The Goods and Services Trade Balance deficit came a

The post British Pound: Capped by layered resistance against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer against the US Dollar (USD) after encountering resistance near 1.3400, with limited fresh data and Bank of England (BoE) news. The RSI recovery suggests improving momentum, but multiple resistance levels between 1.3420 and 1.3520 constrain upside. They look for GBP/USD to trade in a 1.3350–1.3450 range in the near term. Momentum improves but upside capped “The pound is soft and also entering Tuesday’s NA session with a fractional 0.1% decline vs. the USD after finding some near-term resistance around 1.3400.” “Fundamental releases have been limited and developments out of the BoE have been limited to media reports of a proposed easing in bank capital rules. Political developments have been limited with markets waiting for fresh news on the looming leadership transiti