The Pound Sterling (GBP) bounces back to near 1.2930 against the US Dollar (USD) in Monday's European session after hitting a one-month low of 1.2830 earlier in the day. The GBP/USD pair attracts bids as the US Dollar faces pressure due to the imposition of reciprocal tariffs by United States (US) President Donald Trump on Wednesday. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, declines to near 102.40. Financial market participants have become increasingly concerned over the US economic outlook as Federal Reserve (Fed) Chair Jerome Powell...
EUR/USD recovers intraday losses and flattens to near 1.0960 in Monday's European session. The major currency pair bounces back as the US Dollar (USD) slides in a risk-averse market environment, driven by the imposition of worse-than-expected reciprocal tariffs by United States (US) President Donald Trump on Wednesday. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, slumps to near 104.40. Reciprocal tariffs announced by US President Trump have spooked global markets, resulting in equities melting down across the globe. However, Trump is not...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, recovers initial losses and trades near 103.00 at the time of writing on Monday after an earliest move lower. Markets were selling the US Dollar again as Equities, Yields and precious metals dropped lower. The concern comes after US President Donald Trump said over the weekend that he will be sticking to his tariffs plan, while financial backer and billionaire Bill Ackman warned the President that he is losing business leaders' confidence. On the economic front, all eyes will be on...