GBP/USD remains in a firmly bullish stance
The post GBP/USD remains in a firmly bullish stance appeared on BitcoinEthereumNews.com.
GBP/USD takes a hard rejection from fresh highs, but holds on the bullish side GBP/USD briefly clipped the 1.3200 handle for the first time in six months on Thursday, climbing into fresh highs as the Greenback turns sour across the board. The Trump administration’s “reciprocal” tariffs and a flat tariff have kicked the legs out from beneath market sentiment, despite a delayed reaction to tariff announcements that came after US markets closed on Wednesday. This week, the UK economic data release schedule is relatively sparse, but a new report on US Nonfarm Payrolls (NFP) will be published on Friday. This NFP data could significantly influence markets as the US economy transitions to a post-tariff landscape, with March’s labor figures expected to serve as a “bellwether” for the effects of the Trump administration’s tariff strategies. Read more… Pound Sterling outperforms US Dollar as Trump tariffs fuel US recession risks The Pound Sterling (GBP) surges to near 1.3200 against the US Dollar (USD) during the North American trading hours on Thursday, the highest level seen in almost six months. The GBP/USD pair soars as the US Dollar plummets after US President Donald Trump unveils worse-than-expected tariffs for his trading partners. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, nosedives to near 101.35. US President Trump announced a 10% baseline duty on all products entering the US and additional specific levies on the majority of its trading allies, which have followed threats of countermeasures by their leaders. Market participants expect that the full-scale implementation of tariffs will lead the US economy to a recession. Such a scenario underpins the need for more interest rate cuts from the Federal Reserve (Fed) despite knowing that higher levies have also stoked worries about persistent inflation. Read more… GBP/USD Price Forecast:…
Filed under: News - @ April 4, 2025 5:28 am