Pound US Dollar Exchange Rate News: GBP/USD Firms As Markets Shrug Off Trump Tariff Remarks
The Pound US Dollar (GBP/USD) exchange rate strengthened on Tuesday, with the pairing coming within touching distance of the two-month high struck at the start of the week.
The news spurred a rise in UK defence stocks, with GBP investors hopefully that the increase in spending will help to benefit the UK economy over the next couple of years.
In the absence of any market moving UK or US economic data, movement in the Pound to US Dollar exchange rate in mid-week trade is likely to be driven primarily by geopolitical developments.
This could see investors favour the US dollar amid the ongoing uncertainty surrounding US trade policy and President Trump’s approach to transatlantic relations.
Meanwhile, GBP investors may err on the side of caution ahead of Starmer’s face-to-face meeting with Trump on Thursday.
While a positive rapport between the two leaders may help to bolster the Pound – on hopes the UK will get preferential treatment in any future trade agreement – any signs of tensions could sap Sterling sentiment.
Adam Solomon
Contributing Analyst
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