Pound Rises As European Shares Traded Higher
14 Aprile 2025 - 9:44AM
RTTF2
The British pound strengthened against other major currencies in
the European session on Monday, as European shares traded higher
following the U.S. decision to grant tariff exclusions on
smartphones, computers, and other electronics—many of which are
imported from China.
However, there is still some uncertainty about Trump's moves, as
commerce secretary Howard Lutnick later clarified that these
exemptions are not permanent. Trump later said on Truth Social that
they are still subject to the existing 20% Fentanyl tariffs but
just moving to another bracket.
The focus is also on trade talks between the U.S. and the
European Union. EU Trade Commissioner Maros Sefcovic is reportedly
set to meet with U.S. officials.
The announcement by the US Customs and Border Protection over
the weekend that new exemptions from tariffs on various tech
products, including smartphones, laptops, and other electronics
means that selected electronic items will be excluded from the
current 145% tariffs on China, as well as the 10% baseline
tariffs.
The U.S. President has said that he would announce the tariff
rate on imported semiconductors within the next week.
Traders await the release of U.K.'s employment data for the
three months ending in February and the Consumer Price Index (CPI)
data for March, scheduled to be released on Tuesday and Wednesday,
respectively.
In the European trading today, the pound rose to nearly a 2-week
high of 1.3200 against the U.S. dollar, from an early low of
1.3084. The pound may test resistance around the 1.33 region.
Against the Swiss franc, the yen and the euro, the pound
advanced to 4-day highs of 1.0812, 188.89 and 0.8625 from early
lows of 1.0678, 186.59 and 0.8695, respectively. If the pound
extends its uptrend, it is likely to find resistance around 1.14
against the franc, 190.00 against the yen and 0.83 against the
euro.
Looking ahead, Canada new motor vehicle sales data and wholesale
sales data for February and U.S. consumer inflation expectations
for March are slated for release in the New York session.
Grafico Cross Euro vs Sterling (FX:EURGBP)
Da Apr 2025 a Mag 2025
Grafico Cross Euro vs Sterling (FX:EURGBP)
Da Mag 2024 a Mag 2025
