Wednesday 12th March
· Trump strikes again with new tariffs
· USD: Eyes on inflation data
· EUR: Gaining momentum
· GBP: On the sidelines
Recap
· Markets whipsaw on major headlines: Trump and Ukraine developments drive volatility.
· Early sell-off: USD, bond yields, and equities drop after Trump announces a 25% tariff on Canadian steel and aluminum.
· Sharp rebound: Risk assets recover as Ukraine signals willingness for a 30-day ceasefire and the U.S. backs off Canadian tariff hikes, scheduling high-level trade talks for March 13.
· Dollar tumbles: Renewed risk appetite pushes the USD to fresh lows for the year.
· Tariff tensions persist: The EU vows to retaliate with equal countermeasures against U.S. steel and aluminum tariffs.
Today’s Rates
Today's Interbank Rates at 10:25 am against GBP movement.
GBP>EUR – 1.1852
GBP>USD – 1.2941
EUR>GBP – 0.8437
EUR>USD – 1.0919
GBP>CAD – 1.8659
GBP>AUD – 2.0576
GBP>SEK – 13.033
GBP>CHF – 1.1429
GBP>PLN – 4.9782
GBP>AED – 4.7519
GBP>HKD – 10.053
GBP>ZAR – 23.770
Today’s Key Takeaways
· Markets in flux: Trump's shifting tariff stance continues to fuel volatility.
· Brief respite: Focus shifts to macroeconomic data today.
· Key event: U.S. February inflation data set for release, with expectations of a slight decline.
· Fed in focus: With an interest rate decision next week, today's report will be closely analyzed for signs of persistent inflation.
12 March 2025
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