Pound Sterling Price News: GBP/USD rallies as Trump tariff threats against EU weigh on US Dollar

EUR/USD now picks up extra pace, climbing past the 1.1640 level, or daily highs, as the US Dollar continues to lose momentum. The move follows fresh tariff threats from President Trump against eight European countries opposing his proposal to take Greenland. With US stock and bond markets closed for Martin Luther King Jr. Day, trading conditions are likely to remain thin.

GBP/USD found its footing after a soft start to the week, edging modestly above 1.3400 the figure on Monday. The British Pound gathers steam on the back of a weaker Greenback, as markets continue to evaluate President Trump’s latest tariff threats against Europe over Greenland.

Gold drew strong buying interest at the start of the week, surging to a fresh record high near $4,700 per troy ounce. Markets turned more cautious after President Trump threatened tariffs on eight European countries opposing his plan to acquire Greenland, a shift that helped underpin the yellow metal.

Meme coins, such as Dogecoin, Shiba Inu, and Pepe, extend the decline from last week, with a roughly 3% drop on Monday. The meme coins trade below the crucial moving averages, aiming for the immediate support to potentially reset the momentum.

Markets opened the week like a risk engine hitting a pothole at speed. Equities stepped back, gold vaulted to fresh highs, Treasuries caught a bid, and the dollar, outside of havens, took on a soft bid. This was not a data-driven wobble or a valuation purge.

Meme coins, such as Dogecoin, Shiba Inu, and Pepe, extend the decline from last week, with a roughly 3% drop on Monday. The meme coins trade below the crucial moving averages, aiming for the immediate support to potentially reset the momentum.