Dear Reader,

 

Today's overview of economic news and market action: 

 

 

  • Trading conditions were relatively calm throughout the European session yesterday …
  • After the European and US close, President Trump revealed the aforementioned tariff measures …
  • A 10% universal tariff rate was introduced as well as a number of other country specific rates …
  • The EU now faces a 20% tariff, the UK a rate of just 10%, Chinese goods will have a 34% rate applied …
  • However, there seems to be a carve out for certain industries, including pharma, for now at least …
  • In the aftermath of the announcement the dollar has moved sharply lower …
  • This sees EUR/USD changing hands in the top half of $1.09-1.10, a new YTD high …
  • GBP/USD is north of $1.31, while EUR/GBP is in the top half of 83-84p …
  • Today, investors will be attentive to any retaliatory measures in response to the US tariffs …
 
Continue Reading
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.0978   1.72 6.04
EUR/GBP 0.8371   0.23 1.18
GBP/USD 1.3107   1.47 4.74
GBP/EUR 1.194   -0.23 -1.17
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
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