GBP/USD fell on Monday, cutting further to the lower side and adding to short-term losses as Pound bulls took a breather. Losses were contained in early week trade; however, fresh tariff threats from US President Donald Trump have dented investor risk appetite, curbing upside market flows and sparking a renewed push to avoid risk on the US Dollar.
The Trump administration went into overdrive this week, delaying its self-imposed July 9 deadline to restart the broad reciprocal tariffs that were initially announced and then quickly postponed in early April. Despite another change to the "firm" deadline for tariffs from the Trump team, President Trump has announced a number of additional new tariffs, adding double-digit tariff rates that will take effect on April 1 alongside the suspended reciprocal tariffs.
Economic data remains fairly limited this week. Market focus will be on trade war rhetoric from the Trump administration, although the latest Federal Reserve (Fed) Meeting Minutes, due out on Wednesday, will be of interest to traders looking to gauge how close (or far) the Fed is to cutting interest rates. (alg)
Source: FXstreet
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