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Pound pushes higher as Trump hints at tariff climbdown - YAHOO FINANCE
The pound was higher against the dollar on Tuesday morning, up 0.3% to $1.3638, after US president Donald Trump suggested he could make further concessions on trade tariffs.
Sterling’s gains came as markets responded to signs of a more conciliatory stance from the White House on its trade agenda. The US administration has issued formal letters to 14 countries outlining revised tariff rates, due to take effect on 1 August. The move extends a 90-day delay on so-called “reciprocal” tariffs that had been scheduled to expire on Wednesday.
However, during a dinner with visiting Israeli prime minister Benjamin Netanyahu, Trump hinted that the August deadline might not be set in stone.
“I would say firm, but not 100% firm,” he said.
Asked if the tariff rates were final, he added: “I would say final – but if they call with a different offer, and I like it, then we’ll do it.”
The US Dollar Index (DX-Y.NYB), which tracks the greenback against a basket of six major currencies, slipped 0.1% to 97.26 after the comments.
In other currency moves, the pound was muted against the euro, trading at €1.1602 at the time of writing.
