GBP/USD rose on Monday, buoyed by a broadly-underbid US Dollar and a latent recovery in Pound Sterling flows. The pair is knocking back into the 1.2700 handle, with price action continuing to get mired in the 200-day Exponential Moving Average (EMA).
US President Donald Trump reiterated his threats to impose a 25% tariff package on Canada and Mexico on Monday, which are set to automatically go into effect at midnight EST Tuesday morning.
Markets have gotten used to President Trump kicking the can on his own policy threats since taking office in January, but this time may turn out to be different and general market sentiment is wobbling.
Data remains limited this week on the UK side of the economic data docket, leaving markets to toil under the burden of tariff threats, as well as a looming Friday Nonfarm Payrolls (NFP) print due at the end of the week.
Source: FXStreet
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