The pound briefly extended gains against the U.S. dollar on Thursday after data showed the British economy grew faster than expected in March.

The pound slumped against a stronger dollar on Monday but firmed against the euro and yen as the United States and China temporarily cut reciprocal tariffs following negotiations over the weekend.

The U.S. dollar gained against the safe-haven yen and Swiss franc on Thursday with market nerves soothed by a bilateral trade deal between the United States and the United Kingdom, while sterling reversed gains made after an interest rate cut from the Bank of England.

The pound rallied against the dollar on Thursday amid growing investor pessimism over the lack of any real progress in de-escalating the trade war between the U.S. and China, the world’s two largest economies.

The dollar resumed its descent on Wednesday, dropping across the board and losing the most ground to the Swiss franc and the euro as a new bout of tariff-induced nerves gripped markets.

The pound edged up on Tuesday, clawing back some gains from the euro in particular, as the volatility that has dominated markets for the past couple of weeks appeared to ebb.

Pound Euro Exchange Rate News: GBP/EUR Climbs amid Risk-Positive Trade

Global risk appetite has staged a limited rebound on Tuesday with all main equity markets trading in positive territory, but uncertainty remains intense and further high volatility is inevitable while US-China tensions have intensified.

Big banks are turning more pessimistic on the pound before the UK unveils its fiscal plan for the coming year, saying the risk of spending cuts and weaker economic growth forecasts dampens the currency’s appeal.

Sterling weakened slightly on Wednesday after data showed British inflation slowed to an annual rate of 2.8% in February from 3.0% in January, also slightly below market expectations.

Gold hits yet another record high as oil climbs to almost $71 a barrel.

The Pound US Dollar (GBP/USD) exchange rate was largely flat on Monday despite the publication of some below forecast US retail sales data.

The Canadian dollar strengthened against its U.S. counterpart on Friday as equity markets rebounded and Mark Carney was sworn in as the country’s prime minister, with the currency notching its second straight weekly gain.

Sterling lost some ground against the dollar on Friday after data showed British economic output contracted unexpectedly in January compared with December.

The British pound fell slightly against a firmer dollar on Thursday but remained close to four-month highs, bolstered by the UK’s relatively measured approach to U.S. trade ructions.

The British pound further eased against the euro and hovered at one-and-a-half month lows on Monday following its biggest weekly loss in over two years versus the shared currency, though it steadied against the U.S. dollar.

The Pound Euro (GBP/EUR) exchange rate edged lower on Thursday following the European Central Bank (ECB)’s latest interest rate decision.

Sterling edged down versus the euro and was unchanged against the dollar as investors awaited economic data on both sides of the Atlantic and a speech from Bank of England Governor Andrew Bailey later in the day.

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The financial watchdog has ruled that Binance cannot conduct any regulated activity in the UK.

The Bank of England?s consultation on public digital cash could represent the biggest shift in the monetary system for 200 years, says Josh Ryan-Collins of University College London

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Digital cash could be programmed to ensure it is only spent on essentials, or goods which an employer or Government deems to be sensible