The exchange rate of the pound against the euro fell to an eight-month low, continuing the downward trend after President Trump's so-called “Liberation Day” tariff measures. Francesco Pesole, an analyst at Dutch International Group, said in a report: “The euro is highly liquid, so the euro has not been affected by large fluctuations in the past few trading days like the Norwegian krone, Swedish krona, and the British pound.” He said that if the EU responds cautiously to US tariffs rather than act aggressively, the euro may rise further. EUR/GBP rose 0.1% to a high of 0.8596. However, as concerns about the risk of a recession in the US economy weighed on the dollar, the pound rose 0.4% against the US dollar to 1.2769.

The exchange rate of the pound against the euro fell to an eight-month low, continuing the downward trend after President Trump's so-called “Liberation Day” tariff measures. Francesco Pesole, an analyst at Dutch International Group, said in a report: “The euro is highly liquid, so the euro has not been affected by large fluctuations in the past few trading days like the Norwegian krone, Swedish krona, and the British pound.” He said that if the EU responds cautiously to US tariffs rather than act aggressively, the euro may rise further. EUR/GBP rose 0.1% to a high of 0.8596. However, as concerns about the risk of a recession in the US economy weighed on the dollar, the pound rose 0.4% against the US dollar to 1.2769.