GBP: PM Starmer performs well in Washington – ING

FXStreet Insights Team FXStreet

The continued measure of UK PM Keir Starmer's relatively warm relationship with Donald Trump can be marked by the fact that when tariff noise picks up, EUR/GBP trades lower, ING's FX analyst Chris Turner notes.

GBP/USD can go all the way back to 1.22/23

"Whether the UK and the US can secure a new trade deal remains to be seen, but certainly the UK is less exposed to tariffs than its European counterparts. It is hard to argue against EUR/GBP testing major lows at 0.8225 next week."

"We are bearish on GBP/USD, however. And later in March, the refocus on the domestic UK story - and probable government spending cuts - could send GBP/USD all the way back to 1.22/23."

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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