Created
: 2025.04.29
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
GBP/USD declines below 1.3450 ahead of BoE's Ramsden speech
World FX news
Breaking news
GBP/USD declines below 1.3450 ahead of BoE's Ramsden speech
New
2025.04.29 10:23
2025.04.29 10:23
2025.04.29 10:23
- GBP/USD weakens to around 1.3425 in Tuesday's early Asian session.
- Improved optimism over trade tension supports the US dollar and creates a headwind for the pair.
- Traders brace for the BoE's Dave Ramsden speech later on Tuesday.
The GBP/USD pair attracts some sellers to near 1.3425 during the early Asian trading hours on Tuesday, pressured by a modest rebound of US Dollar (USD). Investors await a speech by Bank of England (BoE) official Dave Ramsden for fresh impetus.
The Greenback strengthens against the Pound Sterling (GBP) as the fears of trade tensions ease. China exempted some US imports from its 125% tariffs on Friday, raising hopes that the trade war between the US and China is nearing an end, although China quickly knocked down US President Donald Trump's assertion that trade talks between the two countries were underway.
US Agriculture Secretary Brooke Rollins said on Sunday that the Trump administration is having daily conversations with China over tariffs. Rollins further stated that there were ongoing talks between the two nations and that trade deals with other nations were "very close."
On the GBP's front, firm expectations that the BoE will cut interest rates by 25 basis points (bps) to 4.25% in the May meeting continue to weigh on the GBP. Investors will be closely watching a speech by Bank of England (BoE) official Dave Ramsden later on Tuesday. Any dovish comments could weaken the Cable in the near term.
Pound Sterling FAQs
The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as 'Cable', which accounts for 11% of FX, GBP/JPY, or the 'Dragon' as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of "price stability" - a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Last updated
: 2025.04.29
Related articles
EUR/USD: Watch price action - OCBC
4 minutes agoEUR: Losing some shine - ING
9 minutes agoNZD/USD Price Forecast: Finds psychological support at 0.5950 near nine-day EMA
20 minutes agoJOLTS job openings expected to ease in March before key employment report release
23 minutes agoPound Sterling ticks lower as traders continue to favor BoE dovish bets
37 minutes agoUS Dollar Index maintains position above 99.00 as US-China trade concerns weaken
44 minutes ago
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
EUR/USD: Watch price action - OCBC
Euro (EUR) drifted lower after rising to >3Y high of 1.1570 levels last week. De-escalation in tariff angst somewhat slowed USD's decline and helped to moderate the pace of rally in EUR. EUR was last seen at 1.1390 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.04.29 17:18EUR: Losing some shine - ING
The euro has lost some momentum as the go-to European currency amid US Dollar (USD) outflows. Since the start of the week, it has been outperformed by all other G10 currencies except for USD, CAD and NZD.
New
2025.04.29 17:13NZD/USD Price Forecast: Finds psychological support at 0.5950 near nine-day EMA
The NZD/USD pair remains subdued after registering gains in the previous session, trading around 0.5970 during European hours on Tuesday.
New
2025.04.29 17:03JOLTS job openings expected to ease in March before key employment report release
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the United States (US) Bureau of Labor Statistics (BLS). The publication will provide data about the change in the number of job openings in March, alongside the number of layoffs and quits.
New
2025.04.29 17:00Pound Sterling ticks lower as traders continue to favor BoE dovish bets
The Pound Sterling (GBP) edges lower against its major peers on Tuesday in the European session. The British currency ticks down as traders become increasingly confident that the Bank of England (BoE) will reduce interest rates in the May policy meeting.
New
2025.04.29 16:46US Dollar Index maintains position above 99.00 as US-China trade concerns weaken
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is rebounding after falling over 0.50% in the previous session. The DXY is trading around 99.20 during the European hours on Monday.
New
2025.04.29 16:39China's Commerce Ministry: If the US wants resolution, it should stop making threats
A Chinese Commerce Ministry spokesperson said on Tuesday that "if the US wants resolution, it should stop making threats."
New
2025.04.29 16:38ECB's Cipollone: Trade policy uncertainty could reduce business investment
European Central Bank (ECB) Executive Board member Piero Cipollone said that "trade policy uncertainty could reduce business investment."
New
2025.04.29 16:15EUR/INR: Indian Rupee cross rates down at the start of the European session
Indian Rupee (INR) crosses trade with a negative bias at the start of Tuesday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 97.17, with the EUR/INR pair declining from its previous close at 97.26.
New
2025.04.29 16:11USD/CAD holds gains near 1.3850 as Canadian Liberals fail to secure majority government
USD/CAD has recovered its intraday losses, trading around 1.3840 during early European hours on Tuesday. The pair appreciates as the Canadian Dollar (CAD) loses ground following election results in Canada.
New
2025.04.29 16:10Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
