GBP/USD stays elevated near four-month top, above mid-1.3600s amid a broadly weaker USD
The GBP/USD pair retreats a few pips from its highest level since September 2024, around the 1.3680 region touched during the Asian session, and fills a modest bullish gap opening at the start of a new week.
  • GBP/USD bulls retain control as the so-called ‘Sell America’ trade continues to weigh on the USD.
  • A relatively hawkish BoE expectations act as a tailwind for the GBP and also support spot prices.
  • Investors now look to US Durable Goods Orders for some impetus ahead of the FOMC meeting.

The GBP/USD pair retreats a few pips from its highest level since September 2024, around the 1.3680 region touched during the Asian session, and fills a modest bullish gap opening at the start of a new week. Spot prices currently trade with modest intraday gains, above mid-1.3600s, and seem poised to appreciate further.

US President Donald Trump's stance to gain control of Greenland and a standoff with European allies raised doubts about the long-standing NATO alliances. This, along with the loss of trust in global leadership, revives the so-called 'Sell America' trade and weighs heavily on the US Dollar (USD). The USD Index (DXY), which tracks the Greenback against a basket of currencies, fell to a four-month low on Monday and offers some support to the GBP/USD pair.

Apart from this, bets that the US Federal Reserve (Fed) would lower borrowing costs two more times this year turned out to be another factor undermining the buck. The British Pound (GBP), on the other hand, draws support from stronger-than-expected UK economic data, which has tempered near-term rate cut expectations at the Bank of England (BoE). This might continue to act as a tailwind for the GBP/USD pair and validate the near-term positive outlook.

The USD, however, stages a modest intraday recovery as bears turn cautious and opt to lighten their bets ahead of the crucial FOMC policy decision, scheduled to be announced on Wednesday. Investors will look for cues about the Fed's rate-cut path, which will influence the near-term USD price dynamics and provide a fresh impetus to the GBP/USD pair. In the meantime, Monday's release of US Durable Goods Orders could produce short-term opportunities.

US Dollar Price Last 7 Days

The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the Canadian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -2.34% -2.31% -1.95% -1.60% -3.54% -3.70% -2.96%
EUR 2.34% 0.02% 0.35% 0.75% -1.24% -1.39% -0.64%
GBP 2.31% -0.02% 0.11% 0.72% -1.27% -1.42% -0.67%
JPY 1.95% -0.35% -0.11% 0.40% -1.58% -1.73% -0.99%
CAD 1.60% -0.75% -0.72% -0.40% -1.95% -2.11% -1.38%
AUD 3.54% 1.24% 1.27% 1.58% 1.95% -0.15% 0.60%
NZD 3.70% 1.39% 1.42% 1.73% 2.11% 0.15% 0.76%
CHF 2.96% 0.64% 0.67% 0.99% 1.38% -0.60% -0.76%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

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Name / Symbol
Diagramm
% Änderung / Preis
GBPUSD
1 T Änderung
+0%
0
EURUSD
1 T Änderung
+0%
0
USDJPY
1 T Änderung
+0%
0

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