GBP/USD crashes on US-China trade truce boosting US Dollar

The Pound Sterling collapsed by over 0.71% or 90 pips on Monday, following developments over the weekend that boosted the US Dollar. News of the US-China de-escalation of the trade war weighed on Sterling, which plummeted from around 1.3298. At the time of writing, the GBP/USD trades at 1.3207. Read More…

Pound Sterling slumps against US Dollar as US and China slashes tariffs by 115%

The Pound Sterling (GBP) recovers some of its intraday losses after sliding to near 1.3140 against the US Dollar (USD) during North American trading hours on Monday. Still, the GBP/USD pair is down 0.8% at around 1.3200. The Cable falls sharply as the US Dollar strengthens after the United States (US) and China agreed on a reduction in tariffs imposed in the trade war in April, which will come into effect on Wednesday, for 90 days. Read More…

GBP/USD trades with negative bias below 1.3300 amid modest USD strength

The GBP/USD pair kicks off the new week on a weaker note and reverses a part of Friday’s modest recovery from the vicinity of the 1.3200 mark, or over a three-week low. Spot prices trade around the 1.3280-1.3275 region during the Asian session, down 0.20% for the day amid a broadly stronger US Dollar (USD). Read More…