GBP/USD was little changed around 1.3435 in Asian trading on Thursday as markets balanced softer UK inflation against renewed geopolitical tension involving the United States and Iran. The pair has struggled to find direction ahead of key business activity data due later in the day from both countries.
Fresh UK data released on Wednesday pointed to a faster-than-expected easing in price pressures. Headline consumer inflation slowed to 2.8% year over year in April from 3.3% in March, below the 3.0% expected by economists. Core inflation, which strips out food and energy, also cooled to 2.5% from 3.1%, undershooting forecasts and reinforcing signs that domestic price growth is losing momentum.
The weaker inflation figures arrived alongside an unexpected increase in the UK unemployment rate to 5.0%, adding to the view that the Bank of England may have less scope to tighten policy aggressively in the months ahead. Interest-rate futures now imply about 52 basis points of additional tightening by December, down from roughly 60 basis points before the data were released.
Sterling also faced pressure from developments in Washington and Tehran. US President Donald Trump said talks with Iran were in the final stages, but warned of attacks if no agreement is reached. Iranian President Masoud Pezeshkian responded that Tehran was not preparing to concede and would retaliate against any strike. The threat of escalation has supported demand for the US dollar as a safer asset.
Investors are now focusing on preliminary May purchasing managers’ index readings from the UK and the US, which may offer a clearer view of growth momentum and help set the next direction for GBP/USD . For now, the pair remains confined near current levels as traders wait for fresh economic signals and clearer developments on the geopolitical front.Elon Musk’s space company SpaceX disclosed in a recent filing that it held 18,712 Bitcoin at the end of 2025, a stake valued at about $1.45 billion. The figure is more than 10,000 coins above earlier estimates from blockchain-tracking firms, which had placed the company’s holdings much lower.
The disclosure appeared in SpaceX’s S-1 registration statement as the company advances plans to go public. The filing shows that SpaceX bought Bitcoin at an average price of $35,320 per coin. On that basis, its crypto position would rank among the largest corporate Bitcoin holdings and place it seventh among public companies.
SpaceX first began accumulating Bitcoin in early 2021, around the same period that Tesla , another Musk-led company, made its own investment in the digital asset. The newly revealed balance is also notably larger than Tesla ’s reported 11,509 Bitcoin , underscoring that SpaceX has become the more heavily exposed of the two firms.
The update contrasts with prior estimates from BitcoinTreasuries.NET and Arkham, both of which had suggested that SpaceX held only 8,285 Bitcoin . The gap highlights how limited public information had been regarding the company’s balance-sheet exposure to cryptocurrency.
The filing comes as SpaceX prepares for what could become one of the largest initial public offerings in market history. The company is reportedly seeking to raise roughly $75 billion at an estimated valuation between $1.75 trillion and $2 trillion. If completed, the listing would give investors a rare opportunity to gain exposure not only to SpaceX’s aerospace operations, but also to its Bitcoin holdings and other emerging businesses.
SpaceX said it is targeting what it described as the largest actionable total addressable market in human history, estimating a $28.5 trillion opportunity across artificial intelligence, space and connectivity. That strategy reflects the company’s broader ambitions, which include Starlink expansion, orbital data infrastructure and long-term plans tied to Mars exploration.
