Sterling's Strength May Not Last -- Market Talk

Sterling's recent gains reflect sticky U.K. inflation, limited market pricing of Bank of England interest rate cuts and a weaker dollar after softer U.S. prices data but this strength may not last, ING says. "We are still officially looking for three BOE rate cuts this year (versus two currently priced) and when the U.K. data allows it, we think sterling will come lower," ING analyst Chris Turner says in a note. The BOE's August meeting will be the first big opportunity since the U.K. general election to hear what it's really thinking, which is another "downside risk" to sterling, he says. Sterling rises 0.1% to $1.2923 against the dollar and the euro falls 0.1% to 0.8425 versus sterling.

WSJ10minutes ago

Pound Sterling Remains on Defensive as Poor UK Retail Sales Prompt BoE Rate-cut Bets

The Pound Sterling (GBP) fails to extend a slight recovery above the immediate resistance of 1.2930 against the US Dollar (USD) in Monday’s European session.

FXStreet03:42 ET

Forex Today: Mixed Opening to Week as Markets Assess US Political Developments

The US Dollar (USD) struggles to find demand at the beginning of the week, while US stock index futures trade in positive territory. Federal Reserve Bank of Chicago's National Activity Index for June will be the only data featured in the US economic calendar on Monday. Meanwhile, investors will keep a close eye on political developments in the US after President Joe Biden announced on Sunday that he is withdrawing from the 2024 Presidential election.

FXStreet03:39 ET

GBP/USD Price Analysis: Holds Position Above 1.2900; Next Support at 14-day EMA

GBP/USD breaks its two-day losses, trading around 1.2920 in Monday's Asian session.

FXStreet01:02 ET

Sentiment On The USD Fluctuates Amid Political Uncertainties

Recent developments in financial markets have significantly impacted the outlook for the USD.

Business Today22:16 ET

President Biden Dropping Out Unlikely to Materially Shift Markets -- Market Talk

In the near term, President Biden's not seeking re-election and endorsing Vice President Kamala Harris is unlikely to shift markets materially, says Piers Bolger, CIO at Infinity Asset Management.

WSJ22:16 ET