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GBP/USD Rises as Markets Focus on Trade Fears Instead of Jobs Data

Last week’s high: $1.3920

Last week’s low: $1.3759

Strong US Labour Market Data Failed to Strengthen US Dollar as Markets Focus on Trade Fears

The GBP/USD exchange rate was able to strengthen over the course of last week, with markets worried by the impact of new US metal tariffs upon the US economy. President Donald Trump approved tariffs of 25% on steel and 10% on aluminium imports, which markets worried would cause a global trade war.

USD Outlook: Consumer Price Index Figures could Boost US Dollar

If markets manage to turn their focus away from the building threat of a global trade war, Tuesday’s US consumer price index data could boost USD. Forecasts suggest an uptick in overall inflation, taking it further above the Federal Reserve’s target range and putting pressure on policymakers to hike interest rates this month.

Key Events

13th March


12:30 USD Consumer Price Index (YoY) (Feb)

12:30 USD Consumer Price Index Ex Food and Energy (YoY) (Feb)

12:30 USD Real Avg Weekly Earnings (YoY) (Feb)

12:30 USD Real Avg Hourly Earnings (YoY) (Feb)


14th March


12:30 USD Retail Sales Advance (MoM) (Feb)

Arron Morris
Senior Currency Broker
T: 01442 892 065

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