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January 23, 2025

GBP/USD Faces Serious Headwinds Amidst Strengthening US Dollar

GBP/USD remains subdued for a second consecutive session. The pair trades around 1.2320 during the Asian hours on Thursday. It faces several challenges as the US Dollar (USD) gains momentum. This rise comes after President Donald Trump issued a memorandum encouraging federal agencies to investigate and address ongoing trade deficits. Investors closely watch how this development impacts market dynamics, particularly for GBP/USD traders. The US Dollar’s strength often translates into weaker currency valuations against it, putting GBP under pressure. Traders should stay informed on policy changes and potential market shifts. Monitoring the USD’s movement is crucial for understanding GBP/USD price actions.

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