The Pound Sterling is exhibiting range-bound trading near 1.2900 against the US Dollar as market participants await the unveiling of the US President’s reciprocal tariff plan. This plan is anticipated to address perceived unfair trade practices. Concurrently, a deceleration in UK wage growth could increase the likelihood of further interest rate reductions by the Bank of England. Investor caution prevails as they await details of the tariff plan, which President Trump has framed as a measure to revitalize the US economy. The implementation of these tariffs is expected to have immediate and potentially disruptive effects on the global trade landscape, according to White House sources.
