Pound Sterling refreshes three-week low against US Dollar ahead of US-UK CPI data
The Pound Sterling (GBP) slides to near 1.3450 against the US Dollar (USD) during the European trading session on Monday, the lowest level in three weeks. The GBP/USD pair declines as demand for risk-perceived assets has diminished, following a jittery market mood amid trade tensions between the United States (US) and the European Union (EU).
Over the weekend, US President Donald Trump announced 30% tariffs on imports on the EU and Mexico as they failed to close a trade agreement during the 90-day reciprocal tariff pause period. Trump also warned that he will raise tariffs if they retaliate or announce countermeasures. Read more…
GBP/USD Weekly Outlook: Pound Sterling looks vulnerable as inflation and trade tensions loom
The Pound Sterling (GBP) entered a consolidative phase against the US Dollar (USD), following the recent GBP/USD correction from near four-year highs of 1.3789.
Despite the corrective consolidation, GBP/USD sellers held the upper hand amid a steady recovery staged by the US Dollar from multi-year troughs. The Greenback attracted safe-haven flows as trade war fears resurfaced, following US President Donald Trump’s announcements of new tariffs throughout the week. Read more…
