Pound Sterling (GBP)

The British Pound has been trading cautiously, influenced by global uncertainty surrounding U.S. President Trump’s upcoming tariff announcement. This has led to increased demand for safe-haven currencies like the U.S. Dollar, putting some pressure on the Pound. Earlier this week, concerns over aggressive U.S. trade policies dampened optimism for the Pound, which had recently corrected from four-month highs. Traders remain hesitant to make significant moves until more clarity emerges later today.

Euro (EUR)

The Euro has been under pressure as investors shift focus to safer assets amidst economic uncertainty tied to U.S. tariff plans. Inflation data from the Eurozone earlier in the week showed mixed results, but it did little to bolster confidence in the currency. The anticipation of new trade barriers has made investors cautious, with the Euro struggling to maintain momentum against major counterparts like the Dollar.

U.S. Dollar (USD)

The U.S. Dollar has held steady despite global market jitters ahead of Trump’s “Liberation Day” tariff announcement. While manufacturing data revealed signs of contraction in the U.S., concerns over stagflation have kept the Dollar resilient as a preferred safe-haven asset. Investors are awaiting further details on the scope of these tariffs, which could have significant implications for trade and economic growth globally.