Pound comes out on top following Trump trade tariff detail-check out the GBP/USD now

The immediate reaction to the Trump trade tariff announcement seemed to be greeted with relief across the markets and that saw dollar fall versus the European currencies, but not so versus the Yen. Hence, the GBP/JPY and the EUR/JPY charged higher. The EUR/USD spiked to 1.0925 and the GBP/USD lifted above 1.30. The high seen so far has been set at 1.3025 and that is a new 2025 high for the Pound. However, as Trump now provides more detail on individual countries, it is clear the initial 10% tariff announcement was the baseline and not the extent of the measures which are now far more reaching. This further detail has certainly shifted the dial on the US stock futures now and sent all the US markets sharply lower again. The Pound is right now at 1.3010, but in truth it is all over the place in what are very thin trading conditions. The take away from all this is the UK is one of just two countries to come out of this with just a 10% levy and that has sent the EUR/GBP abruptly lower at the same time