The pound has risen to its highest point against the US dollar in four months, spurred by fears of a US recession linked to escalating trade tensions initiated by Donald Trump. Concerns about the American economy were compounded by ambiguous statements from Treasury Secretary Scott Bessent. Analysts suggest the UK might be less affected by Trump's tariffs due to mixed trade data, and investors are moving away from US assets in favor of European markets amid ongoing uncertainty surrounding US trade policies.
"US data indicates a modest trade surplus with the UK... Trump's steel and aluminium tariffs are unlikely to significantly impact the UK economy."
"The market's response reflects growing frustration with Trump's tariff drama. UK stocks have benefitted from the shifting investor sentiment as new opportunities arise."
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