Last week was challenging for Sterling, with disappointing data culminating in weak retail sales figures. This pushed GBPEUR to 1.18 and GBPUSD to 1.21.
Just two months ago, GBPEUR was trading above 1.20 and GBPUSD above 1.30, underscoring how quickly market dynamics can shift. Unfortunately, Sterling’s start to the year has been less than ideal, largely driven by the significant strength of the US Dollar since the US election. With President Trump’s inauguration on Monday, markets are closely monitoring potential developments as he resumes his presidency.
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