GBP/USD drops to almost 1,2400 due to risk moods after Trump’s tariff threats

GBP/USD continues losing the streak during the fourth subsequent session, trading around 1.2420 at Asian hours on Friday. This minus is attributed to an improved American dollar (USD) among increased risk aversion after renewed tariff threats on the part of US President Donald Trump.

President Trump repeated the plans at the end of Thursday to impose a flat 25% import tax on all goods entering the USA from Canada and Mexico, citing fears of fentanyl. According to Reuters, the first wave of tariffs in both countries will enter into force on February 1. In addition, Trump suggested the possibility of applying tariffs on the export of Canadian and Mexican oil. He also confirmed his threat to X (previously Twitter) to apply 100% tariff to BRICS nations if they try to introduce an alternative currency to question the US dollar in international trade. Read more …

GBP/USD sheds weight on Thursday before key American data

GBP/USD slightly chopped on Thursday, dropping a miniature one of one percent, because the markets are struggling with mixed wind and keep the risk of appetite. US President Donald Trump repeated the threats of applying fixed tariffs to Canada and Mexico, on February 1, with fresh threats in pipe for importing Chinese goods and oil products.

Economic data in the USA appeared on Thursday, as well as more flummoxing markets. The growth of the American gross domestic product (GDP) in the fourth quarter of 2024 was below expectations, but the weekly initial unemployed claims selected expectations, remaining within the last standards. Read more …