Forex
Home›Forex›Major Pairs›GBP/USD holds near 1.3500 as US CPI and UK GDP loom
GBP/USD holds near 1.3500 as US CPI and UK GDP loom
FXStreet says the pound stays capped by USD support tied to the US-Iran standoff and expectations for a more hawkish Fed.
The GBP/USD pair was seen trading around the 1.3500 level in early European trading on Tuesday, with moves constrained between minor gains and losses while traders waited for key US and UK data.
FXStreet pointed to the upcoming US Consumer Price Index release on Wednesday and preliminary UK Q2 GDP figures on Thursday, noting that these macro catalysts are expected to provide the next impetus for the pair.
The outlet also cited support for the safe-haven US dollar, tied to a US-Iran standoff and market pricing for the Federal Reserve to adopt a more hawkish stance amid inflation risks linked to volatile oil prices.
FXStreet added that Iran ruled out resuming negotiations until after President Donald Trump’s term ends on January 20, 2029, while shipping disruptions linked to the Bab el-Mandeb Strait and Houthis’ naval blockade have helped push crude to a one-and-a-half-week high.
Latest closeWTI crude $82.30 ▲5.3%|GBP/USD 1.351 ▲0.4%