Connecting Dowish Katha is anxiety over the threat of a wide global trade war, which increases the possibility of UK’s recession.
James Smith of Sankalp Foundation Comment,
“Tariffs will harm the economy and destroy good jobs outside London and SE, so expect a policy. Large risks it turns into a global recession.”
Bank of England Governor Andrew Bailey discussed the US tariff on Thursday, April 24, stating:
“This is not just a relationship between the US and the UK, it is the relationship between the US, the UK and the rest of the world that matters because the UK is such an open economy.
GBP/USD reacts to retail sales report
Pound showed a silent response to retail sales data. Beyond the release of UK retail sales data, GBP/USD climbed a high level of pre-reported-report of $ 1.33407 before $ 1.32731 was reduced.
After the release of UK retail sales data, GBP/USD reached a high level of $ 1.32828 before slipping at a low of $ 1.32740.
On Friday, April 25, GBP/USD was below $ 1.32781 below 0.45%, which reflects inflation, labor market trends, tariffs and sensitivity to their implications for BOE.
