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GBP/USD news for August 3, 2026

Sterling slipped to the 1.3450 area after UK Manufacturing PMI was revised lower, while the dollar initially held ground despite joint yen intervention. However, the greenback later weakened as the US and Iran renewed diplomatic efforts, which also weighed on oil prices and supported risk sentiment. These crosscurrents left GBPUSD sensitive to shifting US policy headlines and UK data revisions.

How the day unfolded

  1. GBP/USD is being driven by fluctuations in the US dollar, which initially held firm despite joint yen intervention but later weakened as the dollar index dipped below 100.00 on renewed diplomatic efforts between the US and Iran. Meanwhile, the pound remains under pressure, with CFTC data pointing to extended bearish positioning and historical data showing August has been the pair's most bearish month.

  2. The British Pound eased to 1.3450 following a downward revision to UK Manufacturing PMI data, indicating softer economic momentum. Meanwhile, the US Dollar Index weakened below 100.00 as renewed diplomatic efforts between the US and Iran raised hopes for a de-escalation, though the dollar held ground amid other support. These mixed signals leave GBPUSD sensitive to upcoming data and geopolitical developments.

  3. The pound eased to 1.3450 after UK manufacturing PMI was revised downward, while the dollar held ground despite a joint yen intervention. However, the dollar index weakened below 100 as US and Iran resumed diplomatic efforts, and strong US inflation comments added mixed signals. August has historically been a weak month for GBP/USD.

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Scheduled events

As of 23:44 UTC

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Not investment advice. For informational purposes only.