GBP/USD will walk water when the markets are waiting for a tariff explosion
On Monday, GBP/USD passed paper to friends of the territory, grinding a familiar congestion zone, when investors are preparing for the latest iteration of the tariff threats of US President Donald Trump. The Trump administration is to adopt a wide catalog of tariffs to functionally of all US trading partners from April 2.
Detailed details of Trump’s tariff plans for this week remain blurred and elusive, but significant tariff threats remain “mutual” tariffs for each country that has its own import tariffs for American goods, regardless of the economic context. Further retaliation tariffs for Canada and the European Union are also expected, with additional flat tariffs proposed on copper and cars around the world. Read more …
DIPS GBP/USD as a tension
The pound of sterling (GBP) loses the ground compared to the US dollar (USD), as the US liberation day is approaching on Wednesday, when President Donald Trump is expected to announce additional tariffs for those already introduced from March 2. At the time of writing, GBP/USD trades at 1.2911, which is a decrease in 0.17%.
The escalation of the trade war led investors to abandon more risky assets. Wall Street registers significant losses on Monday, a reflection of the grim market mood, when American actions are to end their worst quarter compared to the rest of the world since the 1980s, Bloomberg revealed. Read more …
