In the European session on Tuesday, the British Pound continues to grapple with selling pressure as it trades near 1.2445 against the US Dollar, reflecting a 0.42% decline on the day. Despite an optimistic statement from UK Prime Minister Keir Starmer, who expressed hope in the UK's economic turnaround, the Pound remains the weakest against the Greenback. The ongoing risk aversion driven by US President Trump’s tariff threats and rebounding US bond yields have provided a significant boost to the US Dollar.
GBP/USD has not only struggled against the backdrop of global economic tensions but also faces additional challenges from bets on more aggressive policy easing by the European Central Bank (ECB). The pair's decline can also be attributed to the unabated buying of the US Dollar, which has been buoyed by strong demand amid current global uncertainties. In parallel, EUR/USD also experiences notable losses, trading near 1.0450 during Tuesday's European trading session.
The British Pound's struggles are further highlighted by a comparison of its performance against other major currencies. The table below illustrates the percentage change of the GBP against various major currencies today:
| Currency Pair | Percentage Change |
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