USD/QAR Exchange rate

Gold clings to daily gains and trades near the record-high it set above $3,080 earlier in the day. Although the data from the US showed that core PCE inflation rose at a stronger pace than expected in February, it failed to boost the USD.

EUR/USD fluctuates in a narrow channel below 1.0800 in the second half of the day on Friday. The PCE inflation data from the US and the risk-averse market environment amid the uncertainty surrounding the Trump administration trade policy support the USD and don't allow the pair to gain traction.

GBP/USD trades near 1.2950 in the American session and looks to end the week marginally higher. Uncertainty over US President Trump's tariff plans weigh on risk mood and caps the pair's upside, even after February Retail Sales data from the UK came in better than expected.

US President Donald Trump’s tariff policies are expected to escalate market uncertainty and risk-off sentiment, with the Kobeissi Letter’s post on X this week cautioning that while markets may view the April 2 tariffs as the "end of uncertainty," it anticipates increased volatility. 

Trump has so far enacted tariff changes that have lifted the trade-weighted average tariff rate on all US imports by around 5.5-6.0%-points. While re-rerouting of trade will decrease the effectiveness of tariffs over time, the current level is already close to the highest since the second world war.