The two slight increases in the People’s Bank of China’s central parity fixes for USD/CNY on Monday and Tuesday have stoked speculation that it might be contemplating a devaluation of the Renminbi, however, the fixes for the 24 other currencies in the basket show that a devaluation is likely not on Beijing’s agenda.

April 8,2025

The Pound to Dollar rate fell below a major long-term pivot level on Monday and could now face headwinds on any recovery above 1.2850 on Tuesday, including sales associated with Beijing’s management of GBP/CNY, and possible further sales of GBP/JPY and GBP/EUR from the FX desk at JPMorgan.

April 8,2025

Pound rallies as UK 'spared' with 10% tariff.

May 8,2025

A flat, non-discriminatory tariff would impact the UK.

April 2,2025

The near-term trajectory remains supportive, but significant headwinds build into the Autumn budget.

March 31,2025

The British Pound's post-inflation slide stemmed from significant U.S. tariff announcements.

March 27,2025

UK inflation figures for February were cooler than expected.

March 26,2025

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