The US dollar returned to the upside as geopolitical fears rebounded after US President Trump's address to the nation. The rhetoric fuelled risk aversion and flows toward the dollar while oil prices surged.
U.S. financial markets experienced a volatile week, largely influenced by geopolitical developments in the Middle East and fluctuations in energy prices. Investor sentiment was driven primarily by external events rather than domestic fundamentals.
It's a very transactional presidency, and our job is to navigate this, to always remember that the friendship between the United States and the United Kingdom runs very deep. It's a good relationship. It's enduring, and I think it will outlast all the personalities involved.
High-level diplomatic talks are underway after Donald Trump announced a global tariff increase to 15%, raising fresh uncertainty for British exporters. The UK Government says it is aiming to secure the "strongest possible trading position" for British firms amid what ministers describe as an evolving situation. Education Secretary Bridget Phillipson said businesses may face short-term uncertainty but insisted Britain expects preferential trade treatment to continue.
A spokesperson for Downing Street said: The UK government is working with the US to understand how the overturning of Donald Trump's tariffs by the supreme court will affect the UK but expects our privileged trading position with the US to continue. The UK was the first to strike a tariff deal with the US, with 10% tariffs on all imports from Britain, compared with a blanket 15% rate for the EU.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
