GBP/USD briefly touched the 1.3200 level for the first time in six months on Thursday (03/4), climbing to a new high as the greenback turned sour across the board. The Trump administration's "reciprocal" tariffs and fixed tariffs have shaken market sentiment, although a delayed reaction to the tariff announcement came after the US market closed on Wednesday.
Forex Today: US NFP to take centre stage
The UK economic data schedule is relatively quiet this week, but a fresh report on US Nonfarm Payrolls (NFP) is due on Friday. The NFP data could have a significant impact on markets as the US economy shifts to a post-tariff landscape, with March's employment figures expected to be a "harbinger" of the impact of the Trump administration's tariff strategy.
The US ISM Services Purchasing Managers' Index (PMI) for March further dented investor sentiment on Thursday, falling to a nine-month low of 50.8 and falling at one of the fastest monthly rates since the pandemic. Business activity and consumer confidence evaporated ahead of the Trump administration's tariffs, and the post-tariff reality is unlikely to see sentiment recover quickly.(Newsmaker23)
Source: FXstreet
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