• GBP$ firm in NY afternoon, +0.5% at 1.2763; NorAm range 1.2768-1.26995

• Pair rallies to 2025 high amid tariff uncertainties, falling UST yields

• Sterling soars to 2025 high at 1.2768 after tariff-related UST yield dip

• Zelenskiy shift to conciliatory tones on US-Ukraine relationship

• UK trade deficit w/US keeps focus on surplus countries

• Today's tariffs Fentanyl focused vs China, Mexico, Canada

• Round 2 beginning April 2 focused on trade imbalances

• GBP$ res 1.2768 Tuesday high, 1.2786 the 200-DMA, 1.2811 Dec 6 high

• Supt 1.2731 rising 10-HMA, 1.2679 Tuesday low, 1.2569 Feb 28 low

GBP Chart:

(Paul Spirgel is a Reuters market analyst. The views expressed are his own)