Pound Sterling underperforms US Dollar as Trump's fresh tariffs dampen market mood
The Pound Sterling (GBP) extends its downside move to near 1.2570 against the US Dollar (USD) in Friday’s European session. The GBP/USD pair faces pressure as the US Dollar gains further amid a risk-off market mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, moves higher to 107.45.
Market participants are cautious as President Donald Trump has announced more levies on China and provided more clarification on the timeline for 25% import duties on Canada and Mexico and reciprocal tariffs. Read more...
GBP/USD Forecast: Pound Sterling could struggle to gather bullish momentum
GBP/USD seems to have entered a consolidation phase near 1.2600 after losing more than 0.5% on Thursday as investors move to the sidelines while waiting for January inflation data from the US.
The US Dollar (USD) benefited from safe-haven flows in the American session on Thursday and gathered strength against its major rivals. Read more...
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