Pound Rises Amidst Uncertain U.S. Trade Policies
The British pound has slightly risen against the dollar following a court ruling against U.S. import tariffs. While the pound remains below its recent peak, it continues to perform strongly due to favorable UK-U.S. trade deals and positive economic indicators, despite challenging market conditions.
The pound ticked higher against the dollar on Thursday, defying a stronger greenback following a court ruling against U.S. President Donald Trump's proposed import tariffs. At 0942 GMT, the pound rose 0.12% to 1.347 per dollar, while the euro, yen, and franc fell against the U.S. currency.
Despite the increase, the pound remains shy of the 1.359 level seen earlier in the week, its highest since February 2022. George Vessey, Convera's lead FX & Macro Strategist, noted that although gains against the dollar have been limited, the pound remains above its 21-day moving average.
The pound has advanced nearly 8% against the dollar in 2025, experiencing a fourth straight monthly rise. This trend is driven by trade agreements and strong economic data, such as retail sales and a UK-U.S. trade deal, though British business confidence is currently waning.
(With inputs from agencies.)
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