The GBP/USD pair erased more than 100 pips in a matter of minutes after Minister Nick Hurd announced that there wouldn't be a press conference by British Prime Minister Theresa May tonight. As of writing, the pair is trading at 1.2930, losing 0.35% on a daily basis. Earlier in the day, news outlets reported that May would deliver a statement at 17:00 GMT.
Author
FXStreet Team
FXStreet
EUR/USD has lost a bit of momentum after its earlier push higher and is now attempting to reclaim the key 1.1800 barrier on Monday. In the meantime, investors remain focused on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.
GBP/USD is extending its move higher on Monday, meeting some resistance around 1.3530 on the back of the widespread bearish tone in the US Dollar amid ongoing uncertainty around tariffs. For now, traders are watching overall risk sentiment and central bank rhetoric for the next directional cue.
Gold is holding onto its bullish tone on Monday, hovering near monthly highs well above the $5,100 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.
Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.
On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.
The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.
