GBP/USD treads water as markets await tariff blowback
GBP/USD churned chart paper in familiar territory on Monday, grinding out a familiar congestion zone as investors brace for the latest iteration of US President Donald Trump’s tariff threats. The Trump administration is set to enact a wide catalogue of tariffs on functionally all of the US’s trading partners beginning on April 2.
The specific details of the Trump administration’s tariff plans for this week remain fuzzy and elusive, but prominent tariff threats remain “reciprocal” tariffs on every country that have their own import tariffs on US goods, regardless of the economic context. Further retaliatory tariffs on Canada and the European Union are also expected, with additional flat tariffs proposed on Copper and automobiles across the board. Read more…
GBP/USD dips as trade war tensions mount ahead of US tariff Liberation Day
The Pound Sterling (GBP) loses ground versus the US Dollar (USD) as US Liberation Day approaches on Wednesday, when President Donald Trump is expected to announce additional tariffs to the ones already enacted since March 2. At the time of writing, GBP/USD trades at 1.2911, down 0.17%.
The escalation of the trade war has led investors to ditch riskier assets. Wall Street registers substantial losses on Monday, a reflection of a dismal market mood as US equities are set to finish their worst quarter compared to the rest of the world since the 1980s, revealed Bloomberg. Read more…
