The Pound Sterling rose and refreshed six-month highs against the US Dollar on Tuesday as the financial markets' narrative remains linked to the US imposing tariffs. Cable shrugged off soft UK jobs data; hence, the GBP/USD rallied 0.36% and traded at 1.3233.
Pound Sterling (GBP) is performing well on the day with a 0.4% gain vs. the US Dollar (USD) and outperformance against most of the G10 currencies as it pushed to fresh highs at levels last seen in October, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR/USD continues to slide for the second consecutive session, trading near 1.1350 during Asian hours on Tuesday. The pair weakens as the US Dollar (USD) attempts to regain stability amid growing concerns over stagflation.