- The Pound Sterling falls to near 1.2650 against the US Dollar as market sentiment is cautious due to uncertainty over the global economic outlook.
- President Trump said that he will unveil details of tariffs on the Eurozone soon.
- Investors await the Trump-Starmer meeting and the US PCE inflation data.
The Pound Sterling (GBP) trades cautiously against its major peers on Thursday as investors await the outcome of United Kingdom (UK) Prime Minister Keir Starmer’s meeting with US President Donald Trump on Thursday. Starmer is expected to negotiate on trade policies between both nations.
Investors will pay close attention to Trump-Starmer’s meeting, given that the UK is the fifth largest trading partner of the US after Canada, Mexico, China, and Germany, according to data from the US Bureau of Economic Analysis (BEA).
Trump-Starmer talks on trade policies are expected to be healthy as Trump has never raised any issue regarding unfair trade practices by the UK in his tariff threats since the election campaign. Also, President Trump said in a press conference earlier this month that he is not sure about imposing tariffs on the UK and was confident that a deal could be made as Prime Minister Keir Starmer has been “very nice”.
Meanwhile, UK Chancellor of the Exchequer Rachel Reeves is confident that trade and investment between the US and the UK would not be derailed by the new US administration. “The last time President Trump was in the White House, trade and investment flows between our two countries increased, and I’ve got every confidence that that can happen again,” Reeves said in an interview with Reuters at the sidelines of the G20 Finance Ministers’ summit.
Free Forex Signals 
Leave a comment