GBP/USD is falling for the second day in a row.
Current price is around 1.2940 in Friday’s Asian session.
The British Pound is struggling due to weak market confidence.
Investors are worried about global trade after US President Trump threatened a 200% tariff on European wines.
Traders are waiting for UK GDP and factory data for further direction.
CONSUMER SENTIMENT DROPS IN MARCH TO 57.9. Consumer sentiment fell to 57.9, down 10.5% from February and below the 63.2 estimate. 27.1% lower than a year ago, the lowest since November 2022. Current conditions index down 3.3%, future expectations dropped 15.3% month-over-month and
TREASURY YIELDS RISE AS INVESTORS AWAIT CONSUMER SENTIMENT DATA U.S. Treasury yields rise ahead of consumer sentiment data. Benchmark 10-year Treasury yield increases by over two basis points to 4.298%. 2-year Treasury yield up two basis points to 3.973%. Tame inflation data this week provides relief to
Gold price is near record high, close to $3,000. Trade tensions due to Trump’s policies are supporting gold prices. Expectations of Fed rate cuts are also helping gold. A small rise in the US dollar is stopping gold from going even higher. If global market conditions improve, gold
The UK government needs more economic growth. It faces spending cuts and possible tax increases. Improving UK-EU trade relations could help the economy. Big changes in UK-EU ties are becoming more likely. However, this alone won’t fix the UK’s financial problems.