The pound sterling rate increased by 0.13% to $ 1.3552, reaching a maximum of $ 1.354 in the first time since February 2022.
The pounds have reached the highest level since the beginning of 2022, as the dollar was under pressure after the next sharp turn of Trump’s trade policy. This is stated in the Reuters News Agency report.
US president Donald Trump on Friday, May 23, hit the world’s markets, threatening 50% duty. The statement caused fear of the influence of the US trade policy on the economy. However, on Sunday, he changed the rhetoric and postponed the term for the introduction of tariffs from June 1 to July 9 after European Commission’s President Ursula Von der Lyain told him that the bloc needed more time to end an agreement.
On Monday, the EU said the weekend call provided a “new impetus” to trade in negotiations.
The UK already has a trade agreement with the United States, but the pounds also participated in “rally” relief.
The Sterling rate rose 0.13% to $ 1.3552, reaching a maximum of $ 1.354 at the first time since February 2022.
The pounds grew more than 8% from the beginning of the year to the dollar – the strongest indicator of the first five months since 2009.
As we have written, on January 9, the pounds fell to the lowest level from the end of 2023 under the pressure of sale of global bonds, which led to the fact that the cost of borrowing the Great Britain Government reached the highest level in the last 16 years, which has again caused Britain’s finances.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.