Pound Sterling (GBP)

The British Pound showed resilience on Friday and this morning, supported by positive UK economic data released late last week, including industrial production figures. However, its recent strength is largely attributed to the ongoing weakness of the US dollar rather than intrinsic factors. Market sentiment remains cautious, with participants closely monitoring global developments, particularly US trade policies, which continue to influence GBP/USD movements.

Euro (EUR)

The Euro has been on a strong upward trend, consolidating gains near multi-year highs against the Dollar. This surge is driven by concerns over the US economy, including recession fears and uncertainty surrounding trade tariffs. The Euro’s appeal as an alternative to the Dollar has grown, bolstered by expectations of a dovish European Central Bank meeting later this week. Investors remain optimistic about the Euro’s trajectory.

U.S. Dollar (USD)

The US Dollar remains under pressure after a volatile week dominated by trade tensions and tariff uncertainties. President Trump’s inconsistent tariff policies have shaken investor confidence in the Dollar as a safe-haven currency. While the Dollar found some stability this morning, broader market sentiment suggests continued scepticism about its long-term strength amid fears of an economic slowdown.