After an extremely volatile week in the markets, Sterling finished significantly stronger, driven largely by a sharp de-escalation in trade tensions.
President Trump reversed proposed tariffs on Europe and the UK, after confirmation that discussions are now underway around a longer-term framework involving Greenland. That shift in tone removed a major risk premium that had been hanging over European assets.
The move gathered further momentum on Sunday evening, with markets opening higher and GBPUSD breaking above 1.36, its strongest level since September.
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