The British pound (GBP) traded in a tight range around 1.3550 against the US dollar (USD) during the European trading session on Monday (August 18th).
The GBP/USD pair consolidated as investors awaited a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and NATO members at the White House on Monday to discuss conditions set by Russian leader Vladimir Putin for ending the war in Ukraine.
On Friday, Trump met with Putin in Alaska to discuss a peace agreement. After the meeting, Trump said that Putin had offered to freeze most of the front line if Kyiv surrendered all of Donetsk, an industrial region that is one of Moscow's primary targets, Reuters reported. Ukrainian President Zelenskyy has rejected the idea of ceding territory.
Market sentiment generally remained stable ahead of the Trump-Zelenskyy meeting, with S&P 500 futures trading 0.13% higher at 6,460. Signs of a ceasefire between Moscow and Kyiv following the Trump-Zelenskyy meeting would benefit risk assets. However, the lack of a positive outcome from the meeting is unlikely to dampen risk sentiment, as investors have already considered the consequences of a Russia-Ukraine war. (alg)
Source: FXstreet
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