Wednesday 12th March

John Hall • March 12, 2025

Key Headline:

·       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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