Tuesday 14/01/2025
Daily Update 14/01/2025
Key Headline:
- Reports from Trump's economic team have led to a weaker USD.
- Market reactions highlight a shift in sentiment following the updates.
Recap
GBP saw broad declines, influenced by weekend statements from Rachel Reeves and Keir Starmer, with Labour reaffirming its commitment to existing fiscal plans. Meanwhile, USD strengthened for a fifth straight day, supported by rising Treasury yields ahead of Wednesday's anticipated CPI data.
Today’s Rates
Today's Interbank Rates at 09:56 am against GBP movement.
GBP>EUR – 1.1872
GBP>USD – 1.2181
EUR>GBP – 0.8425
EUR>USD – 1.0259
GBP>CAD – 1.7508
GBP>AUD – 1.9679
GBP>SEK – 13.750
GBP>AED – 4.4715
GBP>HKD – 9.4840
GBP>ZAR – 23.113
GBP>CHF – 1.1154
GBP>PLN – 5.0719
Today’s Key Takeaways
- USD weakened last night and continues to do so this morning amid reports that President-elect Trump’s economic team is considering a phased tariff implementation to boost trade negotiation leverage while managing inflation risks.
- Market speculation suggests USD strength since October may have been overextended, prompting some traders to take profits.
- A denial or comment from Trump could reverse this trend and reignite USD buying. Markets remain on edge awaiting further developments.
14th January 2025
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