Pound Sterling trades cautiously ahead of Trump’s tariffs plan
The Pound Sterling (GBP) trades with caution against its major peers on Wednesday. The British currency struggles as investors turn risk-averse ahead of Trump’s reciprocal tariff announcement. Market participants expect that Trump’s new suite of levies will weigh on global economic growth, assuming that the imposition of higher duties by the US on its trading partners will make their products less competitive in the global market. Read more…
GBP: Testing the relative safe-haven status – ING
The UK’s goods exports to the US are worth just below 2% of GDP compared to 3% for the eurozone. It is no massive difference, but the EU has been much more in the focus of Trump’s confrontational foreign approach, ING’s FX analysts Francesco Pesole notes. Read more…
GBP/USD flat lines above 1.2900 mark as traders await Trump’s tariffs announcement
The GBP/USD pair struggles to capitalize on the overnight bounce from the vicinity of the 1.2870 support zone, or a multi-week low touched last Thursday, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices currently trade around the 1.2915-1.2920 region, nearly unchanged for the day, as traders keenly await US President Donald Trump’s reciprocal tariffs announcement before placing fresh directional bets. Read more…