Pound Sterling advances against US Dollar amid uncertainty over Trump’s tariff policy
The Pound Sterling (GBP) jumps to near 1.3600 against the US Dollar during European trading hours on Thursday. The GBP/USD pair trades firmly as the US Dollar underperforms its peers due to uncertainty surrounding the tariff policy. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, posts a fresh three-year low near 97.80.
On Wednesday, United States (US) President Trump threatened to send letters to those trading partners from whom Washington has not received any proposal or those who are not negotiating in good faith, stating trade terms and tariff rates. Read more…
GBP/USD Forecast: Pound Sterling could extend slide on a hot US inflation print
After falling to a fresh weekly low near 1.3450 on Tuesday, GBP/USD corrects higher and holds steady at around 1.3500 in the European morning on Wednesday. The technical outlook points to a bearish tilt in the near term as markets await May inflation data from the US.
The disappointing labor market data from the UK, which highlighted an uptick in the Unemployment Rate alongside softer-than-expected wage inflation figures, revived expectations for the Bank of England (BoE) to cut rates multiple times this year and weighed on Pound Sterling. Read more…
