FX.co ★ Pound Rises Above $1.36

The British pound surged above the $1.36 mark, achieving its highest value since mid-September, as the US dollar weakened amidst increased market anxiety over possible yen intervention by Japan. Investors keenly anticipated the Federal Reserve's policy announcement scheduled for Wednesday, with widespread expectations that interest rates would remain steady. There is also mounting speculation that a more dovish successor to the current Fed Chair, Jerome Powell, could be appointed this week. Additionally, geopolitical and trade tensions continued to ripple through the markets. Initially, US President Donald Trump threatened several European nations with new tariffs related to Greenland, but he later reversed his stance following a framework agreement aimed at a future deal. Trump further cautioned that the US might enforce 100% tariffs on Canada should it finalize a trade pact with China.