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The Pound Sterling (GBP) advances over 0.70% on Wednesday as risk appetite improved amid speculation of an end to the Middle East conflict, following US President Donald Trump’s statement, “We’re going to be out of Iran pretty quickly.” GBP/USD trades above 1.3300 after bouncing off daily lows of 1.3216. Sterling advances as risk-on mood dents US Dollar despite hot prices On Tuesday, rumors surfaced that Trump was considering withdrawing from the conflict, even though the Strait of Hormuz would remain shut. Nevertheless, a Daily Mail columnist reported that sources at the White House said Trump is “considering taking Kharg Island.” Risk appetite improved following Trump’s withdrawal statement, as global equities rallied while the US Dollar erased its earlier gains. US economy faring better than expected The US economy remains solid, yet inflationary pressures are building, according to data. The ISM Manufacturing PMI for March exceeded estimates, rising to 52.7 from 52.5, signaling strong economic activity at the expense of higher prices. The ISM’s sub-component Prices Paid Index rose sharply to its highest level in almost four years at 78.3. Earlier, Retail Sales rose 0.6% MoM in February, its largest jump in seven months, above economists’ forecasts for a 0.5% increase, and up from January’s -0.1% revised dip. Furthermore, the US ADP Employment Change in March revealed that private payrolls rose by 62K, slightly below February’s 66K and better than the expected 40K. Fed’s Barkin and Musalem are concerned about inflation Speeches by Federal Reserve (Fed) officials failed to boost the Greenback, even though the data justify a further recovery in the US Dollar. Richmond Fed Thomas Barkin said that households and firms are still seeing the energy shock as a short-term issue. However, he warned that “The hike case would be around inflation expectations starting to move finally.” St. Louis…

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Filed under: News - @ April 1, 2026 4:38 pm