The Pound Sterling (GBP) is steady, trading under 1.30 and also showing notable relative resilience in an environment of trade-related risk aversion, Scotiabank's Chief FX Strategist Shaun Osborne notes.
PM Starmer's talks with Trump seem to be 'productive'
"Second-tier data releases offer little in terms of fundamentals, and this week’s final PMIs are expected to confirm the (sub-50) contraction in manufacturing and modest growth in services (53.2) offered in the preliminaries. PM Starmer held 'productive' talks in trade with President Trump over the weekend."
"GBP is trading slightly below Friday’s close and quietly consolidating in the middle of its recent range roughly bound between the upper-1.28 area and 1.30. Momentum continues to soften as the RSI drifts toward neutral (50) levels following its recent push to overbought levels around 70."
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