Pound Sterling (GBP)

The British Pound weakened against the U.S. Dollar as market risk aversion increased. After briefly hitting a 10-week high, the Pound declined due to negative sentiment and geopolitical concerns, including President Trump’s tariff threats. This shift caused the Pound to lose momentum against some currencies, keeping it under pressure amid rising market uncertainty.

Euro (EUR)

The Euro remained mostly stable against its counterparts after Germany’s Q4 2024 GDP data showed a decline from 0.1% to -0.2%. Despite the negative figures, the impact on the Euro was minimal. Looking ahead, the currency’s movement may be influenced by Germany’s GfK consumer confidence index, which is expected to show slight improvement and could provide a boost if it surpasses market expectations.

U.S. Dollar (USD)

The U.S. Dollar strengthened in the last trading session, rebounding from nearly 11-week lows despite weak economic data. Concerns over President Trump’s tariff policies eased, and although weak consumer confidence data raised fears of slowing private consumption, news of tax cuts and fiscal measures offered some support to the Dollar, despite ongoing uncertainties.