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- The British pound jumps over 1.3100 against the US dollar, as Trump’s tariff is higher than expected, has pushed the risk of American recession.
- President Trump imposed a 10 % tariff on the UK, the lowest level in all trading partners.
- The UK is unlikely to be divided against American definitions.
the sterling (GBP) rises above 1.3100 against the US dollar (USD) during European trading hours on Thursday, which is the highest level seen in about six months. The GBP/USD pair rises with the US dollar decline yet US (The United States) President Donald Trump reveals a worse tariff than his commercial partners.
The US dollar index (DXY), which tracks the value of Greenback for six main currencies, to approximately 102.70.
US President Trump has announced a 10 % basic duty duty for all products that enter the United States and additional specific tonights on the majority of its commercial allies, which followed threats from anti -leaders by its leaders. Market participants expect that implementation on a large scale of definitions will lead to the leadership of the American economy. Such a scenario supports the need for further cuts in interest rates from Federal Reserve (FED) although the highest fees have also disturbed concerns about persistent inflation.
US Economic House Speaker Stephen Miran also agreed to expect that Trump’s protectionist policies can lead to “short -term bumps” in the economy, according to his interview with Fox Business. However, he explained that the president focuses on “long -term economic transition” and improvement in “durability, sustainability and fairness” for the American economy regarding the rest of the world.
To move forward, investors will pay attention to the data of the S&G Global Procurement Manager Index (PMI) in March, which will be published during the trading hours in North America. It is estimated that the global services managers in the United States will remain in line with the initial expectations of 54.3. The PMI for ISM Services in the United States is expected to come at 53.0 of February 53.5, indicating that activities in the service sector have grown moderately.
US dollar price today
The table below shows the percentage of change in the US dollar (USD) against the main currencies listed today. The US dollar was the strongest against the Canadian dollar.
| US dollar | euro | GBP | JPY | CAD | Aud | Nzd | Chf | |
|---|---|---|---|---|---|---|---|---|
| US dollar | -1.56 % | -0.94 % | -1.83 % | -58 % | -58 % | -0.91 % | -1.90 % | |
| euro | 1.56 % | 0.37 % | -0.29 % | 1.02 % | 1.01 % | 0.67 % | -0.34 % | |
| GBP | 0.94 % | -37 % | -66 % | 0.64 % | 0.65 % | 0.31 % | -0.74 % | |
| JPY | 1.83 % | 0.29 % | 0.66 % | 1.27 % | 1.30 % | 0.81 % | -0.09 % | |
| CAD | 0.58 % | -1.02 % | -64 % | -1.27 % | 0.09 % | -0.34 % | -1.37 % | |
| Aud | 0.58 % | -1.01 % | -65 % | -1.30 % | -0.09 % | -0.33 % | -1.36 % | |
| Nzd | 0.91 % | -67 % | -0.31 % | -0.81 % | 0.34 % | 0.33 % | -1.04 % | |
| Chf | 1.90 % | 0.34 % | 0.74 % | 0.09 % | 1.37 % | 1.36 % | 1.04 % |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is chosen from the left column, while the quotation currency is chosen from the top row. For example, if you choose the US dollar from the left column and move along the horizontal line to the Japanese yen, the percentage offered in the box will represent the USD (base)/JPY (quote).
Daily Digest Market Movers: The pound sterling remains fixed while S& P PMI comes in low -flash characters
- The British pound will perform a different performance with both its main peers on Thursday. It seems that the British currency view is more healthier because US President Trump has imposed the slightest tariff on the United Kingdom (UK). Trump slapped a 10 % tax on Britain, which was the minimum number seen in the mutual tariff scheme.
- Trump’s low definitions in the United Kingdom do not indicate that the influence on economic expectations will be limited. UK companies will face intense competition in the global market from companies in those countries that attracted fat import duties from the United States. The high definitions of these companies will make their products less competitive in the United States, forcing them to provide lower prices in the world.
- Unlike other leaders who are preparing for counter -measures against Trump’s tariff, the United Kingdom is unlikely to be divided. Before revealing the customs tariff, the UK Prime Minister Kiir Starmer said, “I really think it is not reasonable to say that the first response should be jumping to the trade war with the United States as government arches to announce widespread taxes on imports,” according to BBC News. However, he did not rule out that the administration was actively preparing for all “possibilities” before President Trump announced “planned definitions”.
- Meanwhile, the data of the UK’s Procurement Managers in the UK/CIPS and services services in March have become weaker than the first. The PMI compound and services fell to 51.5 and 52.5, respectively.
Technical Analysis: The pound sterling break over 1.3100
The pound gathered to approximately 1.3175 against the US dollar after building a base of about 61.8 % of Fibonacci, which was drawn from late September to the lowest level in mid -January, near 1.2930. The SIA moving average for 20 days (EMA) indicates near 1.2922 Expectations It is my upward.
The relative strength index jumps for 14 days (RSI) around 70.00 after calm to approximately 60.00, indicating that the upscale momentum has resumed.
Looking at the bottom, the 61.8 % retail process at 1.2930 will serve as a major support area for the husband. On the upper side, the highest level on September 26 will be 1,3434 as a major resistance area.
