100 Days In: Trump’s ‘Strategic Uncertainty’ on Tariffs Leaves Markets Guessing

The British pound strengthened on Thursday after the Bank of England cut interest rates by 0.25 percentage points to 4.25%, with an unexpected split among policymakers where two voted to maintain current rates. Sterling gained 0.24% against the U.S. dollar to $1.33215. The currency was also boosted by news that the U.S. and Britain will announce a trade deal to lower tariffs on some goods, as confirmed by President Trump who described it as a “full and comprehensive” agreement.

Gold prices fell on Thursday, dropping 0.4% to $3,352.63 an ounce, as President Trump’s announcement of a comprehensive trade deal with Britain eased market tensions. The deal, which Trump described as one that will “cement the relationship” between the two nations, reduced investor interest in gold as a safe-haven asset. Markets are also watching upcoming U.S.-China trade talks in Switzerland. In other developments, China’s central bank has approved foreign exchange purchases for gold imports under increased quotas, which analyst Han Tan says should support bullion demand. Additionally, escalating tensions between India and Pakistan, with Pakistan reporting it shot down 12