GBP/USD steadies as traders adopt caution ahead of UK labor market data

GBP/USD remains steady near 1.3450 ahead of UK labor data

GBP/USD holds ground after registering modest gains in the previous session, trading around 1.3430 during the Asian hours on Tuesday. The pair moves little as traders adopt caution ahead of labor market data from the United Kingdom (UK) due later in the day. Focus will shift toward the UK Consumer Price Index (CPI) and Retail Sales figures for December later in the week.

The ILO Unemployment Rate is forecast to ease to 5% from 5.1% in the three months to November, the highest since early 2021. Meanwhile, Average Earnings Including Bonuses are expected to slow to 4.6% from 4.7%. Read more…

GBP/USD bounces from key levels as US Dollar falters on geopolitics

GBP/USD caught a much-needed bullish bounce on Monday, driven higher by a broad-market decline in the US Dollar (USD) rather than any particular strength behind the Pound Sterling (GBP). US President Donald Trump has informed the world that he wants to own Greenland, a proposal that has met stiff opposition from the European Union, including the Kingdom of Denmark, of which Greenland is an autonomous territory, and Greenland itself.

Donald Trump has escalated rhetoric about the US “owning” Greenland, hinting at a more aggressive stance that he partially attributes to being snubbed for the Nobel Peace Prize, despite being reminded by Norway’s prime minister that the prize is awarded by an independent committee. He has also threatened to impose a 10% tariff on US exports to European countries starting February 1, rising to 25% by summer, unless the European Union cedes an entire nation to the United States. European leaders swiftly responded with reciprocal tariff threats, which are expected to further strain already pressured American industries. Read more…

GBP/USD rallies as Trump tariff threats against Europe weigh on US Dollar

GBP/USD rises on Monday after tensions between the US and Europe had grown following a social media post of US President Donald Trump threatening to impose duties on eight European countries. At the time of writing, the pair trades at 1.3414, up 0.28%.

Over the weekend, Trump announced 10% tariffs on eight countries, including Denmark, Norway, Sweden, France, Germany, Finland, the Netherlands and the UK. The duties would be effective on February 1 and would be increased to 25% on June 1 if they failed to reach an agreement, so the US can annex or purchase Greenland. Read more…