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Feb 03 - 03:55 AM

GBP/USD - Weighed Down By Trump's Tariffs

By Robert Howard  —  Feb 03 - 02:46 AM

• Cable sank to 1.2249 in Asia, as safe-haven dollar rose on Trump's tariffs

• Trump says Americans may feel 'pain' in trade war with Mexico, Canada, China

• 1.2249 is lowest level since Jan 21. Friday's range was 1.2387-1.2472

• 1.23 is now a resistance level (stops at 1.2300 were tripped in Asia)

• UK PM Starmer to meet EU leaders today. BoE rate cut expected on Thursday

• CFTC data showed net GBP short rose to 21,672 contracts in week ended Jan 28

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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