GBP/USD Forecast: Sterling Approaches Next Resistance
GBP/USD started the day under pressure on Tuesday, but managed to reverse direction in the second half of the day to close in positive territory. The pair remains relatively calm and fluctuates around 1.2350 in the European session on Wednesday.
Despite uncertainty surrounding US President Donald Trump’s tariff policies, Wall Street’s main indices opened higher after the long weekend and made it difficult for the US dollar to remain resilient against its peers. on Tuesday. Read more…
Pound Sterling Gains Against USD as Investors Begin to Digest Trump Tariff Threats
The British Pound (GBP) rises to near 1.2350 against the US Dollar (USD) in the London session on Wednesday. The GBP/USD pair gains as the US Dollar struggles to hold its two-week low, with the Dollar Index (DXY), which tracks the value of the Dollar against six major currencies, trading cautiously around 107.90 as its demand for safe haven has moderated.
The safe haven appeal of the USD has diminished as tariff plans unveiled by the United States (US) administration under President Donald Trump are less formidable than investors had anticipated on the campaign trail. Trump said Tuesday that he would impose 10% tariffs on China on February 1, the same day he promised to impose 25% tariffs on other North American economies. During the election campaign, Trump threatened to impose 60% tariffs on China. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
