GBP/USD rises to 1,3600 due to the feeling of appetite for risk, waiting for the British PMI data
GBP/USD remains stable after four days of profits, quoting around 1,3580 during Thursday’s Asian hours. The torque maintains its position near maximum of two weeks while the US dollar (USD) continues to weaken in the midst of the feeling of appetite for risk, driven by optimism on future commercial agreements between the United States (USA) and key partners.
Financial Times reported that the European Union (EU) and the United States (USA) are close to an agreement that would impose 15% tariffs on EU products imported to the US. Read more…
GBP/USD continues to rise as the hopes of a commercial agreement feed the dollar falls
GBP/USD rose on Wednesday, registering strong profits for the third consecutive day and approaching the level of 1,3600. The US dollar (USD) is suffering on all fronts, promoted by the expectations of the market for last minute trade agreements between the Trump administration and all others before the deadline of August 1 for “reciprocal” tariffs. The sale pressure on the dollar in the currency space gave a boost to the sterling pound (GBP), further strengthening the action of the cable to the upward side.
The US has a tentative commercial agreement with Japan, which would include a 15% reciprocal tariff on all Japanese products, and the Trump administration may have made it difficult, not facilitated, that foreign companies, at least those based on Japan, transfer their production chains to the US thrown cold water on those rumors, describing them of speculation. Read more…
GBP/USD rises above 1,3550 as the commercial agreement between the US and Japan promotes a risk rebound
The GBP/USD rose more than 0.30% on Wednesday, driven by an optimistic appetite for risk after the announcement of the commercial agreement between the US and Japan, which increased the demand for high beta currencies such as sterling pound and other currency of raw materials. At the time of writing, the par is quoted in 1,3574, having reached a daily minimum of 1,3515.
On Tuesday, US President Donald Trump announced that an agreement had been reached, under which Japanese imports to the US would be subject to tariffs of 15%. Previously, the White House sent a letter to Japan, setting tariffs at 25%, including cars. The agreement would force Japan to invest hundreds of billions of dollars in the US, with approximately 550 billion dollars in funds linked to investments in the US read more … Read more …
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
