Trade British Pound / US Dollar (GBPUSD)

A US court rejected Trump's tariff refund delay as the Dollar (98.5) and 10 year yield (4.04%) held gains amid Middle East escalation and inflation fears.

President Trump stated that operations against Iran could last up to four weeks, though he added that developments are proceeding as planned and could wrap up sooner.

Markets traded cautiously ahead of key inflation data and amid ongoing trade and geopolitical uncertainty. 

Markets remained cautious as a new 10% U.S. global tariff weighed on risk sentiment. The euro and pound stayed under pressure near recent lows, while the yen rebounded on renewed speculation around Bank of Japan tightening. 

Global markets remained cautious as a new 10% U.S. global tariff came into force, keeping trade uncertainty at the center of investor focus. 

Global markets are navigating a renewed wave of uncertainty as shifting U.S. trade policy and geopolitical tensions reshape risk sentiment. The Trump administration’s move to reintroduce a global tariff framework, starting at 10% with the option to raise it to 15%, has unsettled investors and prompted swift responses from major economies. 

Markets reacted sharply to renewed trade uncertainty after a US Supreme Court ruling overturned President Trump’s emergency tariff powers. 

The dollar index rose toward 98, set for a about 1% weekly gain as strong US data and hawkish Fed signals outweighed a wider trade deficit and softer housing data.

Markets traded cautiously as leadership uncertainty at the European Central Bank and firm US data shaped price action across assets. 

Markets traded with a mixed tone as currencies and metals reacted to central bank signals and fresh data. The euro held firm near $1.185, supported by the ECB’s comfort with currency strength and confidence that inflation is on track, alongside expectations of a less dovish policy mix later this year.