USD: Tariff victory by stealth

And just like that, the United States has agreed trade deals with every meaningful partner left on its list. Was this victory for President Trump? On the face of it the answer is yes, although recent events have given rise to a raft of structural challenges that may...


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EUR: Steamrollered

Once the dust had settled, the general consensus was that the EU had received a pretty flimsy deal from its trade negotiations with the United States. Due to the high barriers to trade and lack of substantive concessions from Washington, the euro fell as markets bet...


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GBP: Seeking a breakthrough

Sterling could not build much momentum to start the week and Keir Starmer headed to Scotland in an attempt to secure a boost. With the economy seemingly moving in the wrong direction, it may take a breakthrough on trade to wipe the slate clean for the pound. GBP/USD:...


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Pound weakens again after EU strikes trade deal

Sterling begins the week at its lowest level against the euro since November 2023, following some rather significant news from Donald Trump’s Scottish golf resort. On Sunday, European negotiators were able to strike an eleventh-hour trade deal with the United States...


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