GBP/USD gathers strength near 1.3400 on Trump’s tariff threats
The GBP/USD pair is gaining momentum to around 1.3400 during the early Asian session on Monday. The US dollar (USD) weakens against the British pound (GBP) amid US President Donald Trump’s recent threats to impose tariffs against Europe over Greenland. US markets are closed for the Martin Luther King Jr. Day holiday on Monday.
Reuters reported on Saturday that it would impose an additional 10% import tariff starting February 1 on goods coming from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the United Kingdom until the United States is allowed to buy Greenland. Read more…
GBP/USD Weekly Forecast: Sterling will remain highly volatile in a data-heavy week in the UK
The British pound started the week on a flat note against the US dollar and jumped to 1.3486 on Monday, following criminal charges against Federal Reserve Chairman Jerome Powell over cost overruns in rebuilding the Washington headquarters.
However, the GBP/USD pair declined steadily as the week went on after Alan Taylor, a policymaker at the Bank of England (BoE), made dovish comments on the monetary policy outlook, and investors turned their focus to the Federal Reserve’s monetary policy decision scheduled for later this month. Read more…
