Pound Sterling slumps on global trade tensions
The Pound Sterling (GBP) weakens against its major peers on Wednesday. Investors brace for more volatility in the British currency ahead as protectionist policies by United States (US) President Trump have stemmed the risks of a global recession. Analysts at JPMorgan believe the rapid escalation with US tariffs on China is disruptive enough to push the global economy into a recession. Read more…
GBP/USD: Likely to trade between 1.2740 and 1.2860 – UOB Group
Current price movements are likely part of a range-trading phase, probably between 1.2740 and 1.2860. In the longer run, Pound Sterling (GBP) could decline further vs US Dollar (USD); it is unclear if it can reach the next major support at 1.2580, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more…
GBP/USD appreciates to near 1.2850 due to easing trade tensions after Trump’s comments
The GBP/USD pair advances for a second straight session, trading near 1.2820 during Asian hours on Wednesday. The pair’s uptick is supported by easing trade tensions after US President Donald Trump signaled openness to negotiations with global partners, fueling hopes of a potential de-escalation in trade conflicts. Read more…