Market News
Sterling drops sharply as selloff in risky assets deepens - REUTERS
April 4 (Reuters) - Sterling fell against the dollar and the yen, while hitting a seven-month low versus the euro on Friday as China's additional tariffs against the U.S. deepened a selloff in risky assets.
Global stocks have tumbled for a second day after U.S. President Donald Trump's sweeping tariff plans, with the selloff deepening after China said it would impose additional tariffs of 34% on all U.S. goods.
Among major developed market currencies (G10), sterling tends to be more volatile and sensitive to risk sentiment than traditional safe havens such as the Japanese yen, the Swiss franc, or the U.S. dollar. However, Trump's moves have raised questions about the safe-haven status of the greenback.
