The Pound to Dollar rate receded further from six-month highs on Friday as Chinese retaliation against US trade tariffs stoked fears of an escalating conflict that led equity markets to some of their largest intraday losses since the onset of the pandemic.
The Pound to Dollar exchange rate has scope to rise further to 1.3250 in the days ahead and GBP/EUR might be likely to return toward 1.20, according to a trader at JPMorgan, who’s recently unwound a short position in the latter.
U.S. assets risk a big selloff as international investors are forced to unload.
Why the Dollar is the big loser of Trump's tariff announcements.