GBP/USD Forecast: Pound Sterling loses bullish momentum but finds support
GBP/USD lose more than 0.5% on Monday and erased a large portion of the gains it recorded on Friday. After finding support near 1.3430, the pair staged a rebound and was last seen trading above 1.3450.
Safe-haven flows dominated the action in financial markets late Monday and early Tuesday after United States (US) President Donald Trump renewed his threats of imposing tariffs on countries that discriminate against US technology firms. Additionally, Trump said that they will have to charge China “200% tariff or something” if they don’t give them more magnets, referencing to rare earth metals. Read more…
Pound Sterling gains slightly against US Dollar as Trump fires Fed’s Cook
The Pound Sterling (GBP) ticks up to near 1.3470 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair edges higher as the US Dollar falls slightly after the ousting of Federal Reserve (Fed) Governor Lisa Cook by United States (US) President Donald Trump, which has increased concerns over the central bank’s independence.
On early Tuesday, US President Trump shared a letter on Truth.Social in which he announced the removal of Fed Governor Cook, citing that she made false statements on one or more mortgage agreements. Read more…
