The Pound Sterling (GBP) drops to near 1.3600 against the US Dollar (USD) during European trading hours on Monday. The GBP/USD pair declines as the US Dollar trades calmly, with investors awaiting trade-related headlines in the countdown to the United States (US) tariff deadline on July 9.
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades 0.35% higher at near 97.35.
US Treasury Secretary Scott Bessent expressed confidence in an interview with CNN over the weekend that Washington will announce several deals in a couple of days, New York Times reported. "There's a lot of foot dragging on the other side, and so I would expect to see several big announcements over the next couple of days," Mr. Bessent said. "We're going to be very busy over the next 72 hours," he added.
So far, Washington has announced bilateral agreements with the United Kingdom (UK) and Vietnam and a limited trade pact with China. On July 2, the US expressed confidence that it would close a deal with India in 48 hours, but such an agreement has not been confirmed yet.
Meanwhile, investors should brace for volatility as the US is prepared to send letters to those nations that have not signed a deal with Washington during the 90-day tariff extension.
Over the weekend, Trump said the first batch of letters outlining the tariff levels they would face on exports to the United States would be sent to 12 countries on Monday, Reuters reported.
Source: Fxstreet
GBP/USD remained just above 1.3000 on Wednesday after a brief dead-cat bounce following days of selling pressure. Heading into Thursday, the pair was struggling around 1.3050, down more than 3% from i...
GBP/USD fell again for a second session and is now trading around 1.3250 in the Asian session on Wednesday morning. The pound weakened after data from the British Retail Consortium (BRC) showed food p...
The pound sterling (GBP) exchange rate against the US dollar (USD) has continued to weaken for the fifth consecutive day and is now trading around 1.3340 in the Asian session on Thursday (October 23rd...
The British pound fell to around $1.34, its lowest in a week, after data showed the UK government borrowed £7.2 billion more than forecast in the first half of the fiscal year, underscoring the tough ...
The British Pound (GBP) advances sharply against the US Dollar (USD) on Wednesday, with GBP/USD climbing to a one-week high, reaching its strongest level since September 24, as the Greenback remains u...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned,...
Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings.
The pan-European Stoxx 600 was 0.3% lower...
Asian stocks slipped at the open on Friday (November 7), following a choppy session on Wall Street. The MSCI Asia Pacific Index fell about 0.2%, led...