Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Pound hits seven-month high and gold surges past $3,500 as weak dollar and Trump-Fed row shake markets

by April 22, 2025
April 22, 2025
Pound hits seven-month high and gold surges past $3,500 as weak dollar and Trump-Fed row shake markets

The pound climbed to its highest level in seven months on Tuesday and gold prices surged to a record high above $3,500 per ounce, as investors dumped equities in favour of traditional safe-haven assets amid deepening fears over US political interference in monetary policy.

Sterling briefly broke above $1.34 against the dollar — its highest since September — before easing to $1.338. Against the euro, the pound gained 0.12 per cent to reach €1.163, on track for its longest winning streak against the US currency since 1971.

The market reaction came in response to a renewed barrage of criticism from President Donald Trump, who labelled Federal Reserve chairman Jerome Powell “a major loser” and demanded interest rate cuts, warning of a looming economic slowdown unless his calls were heeded.

Gold rallied sharply on investor jitters, climbing to a new high above $3,500 before settling at $3,469.13 per troy ounce in morning trading in London. Analysts cited growing concerns about the Federal Reserve’s independence as the key driver of the rush into gold.

“The broad sell-off was triggered by rising concerns over Fed independence,” analysts at Deutsche Bank said. “Yesterday’s market moves were the clearest sign yet of investor anxiety over the topic.”

Equity markets reflected the nervous sentiment. On Wall Street, the S&P 500 shed 2.36 per cent on Monday, while the Dow Jones Industrial Average fell 2.48 per cent and the tech-heavy Nasdaq dropped 2.55 per cent — marking one of the sharpest one-day declines this year.

Europe followed suit on Tuesday, with the pan-European Stoxx 600 index slipping 0.65 per cent. Germany’s Dax dropped 0.18 per cent, France’s CAC 40 fell 0.23 per cent, and Italy’s FTSE MIB slid more than 1.2 per cent.

London’s FTSE 100, however, bucked the broader trend. The index overcame early losses to climb 0.48 per cent, or 40 points, to 8,316.30, while the FTSE 250 edged up by 0.03 per cent to 19,255.82.

Commodity markets offered mixed signals. Brent crude rose 1.09 per cent to $66.98 a barrel, while WTI crude added 0.98 per cent to $63.70. Despite the day’s gains, both benchmarks remain significantly lower than at the start of the year.

Bitcoin, often seen as a digital hedge against inflation and market instability, rose 1.06 per cent to reach $88,429, maintaining its volatile upward momentum amid the global economic uncertainty.

With Trump’s intensifying pressure on the Fed and investors increasingly wary of political meddling in central bank decision-making, analysts warn that volatility could persist in the days ahead — particularly if Fed officials push back publicly or market expectations around interest rates shift dramatically.

Read more:
Pound hits seven-month high and gold surges past $3,500 as weak dollar and Trump-Fed row shake markets

0
FacebookTwitterGoogle +Pinterest
previous post
TUC chief defends workers’ rights bill and dismisses business cost concerns
next post
Reeves heads to Washington to champion free trade amid Trump tariff tensions

You may also like

SafeLane Global Welcomes New CEO 

October 31, 2023

UK’s third largest electricity firm Ovo to ditch...

April 18, 2023

London offices lose fifth of their value in...

September 26, 2023

Chancellor’s Spring Budget Sparks Potential Surge in Pension...

March 12, 2024

Britain faces largest exodus of millionaires globally amid...

October 8, 2024

Scan.com raises $12m to increase access to life-saving...

April 17, 2023

Labour backs £15m rescue fund to tackle food...

December 27, 2024

Preparing Your Business for Sale

September 9, 2023

Brexiteer Tories waver on support for Rishi Sunak’s...

March 22, 2023

Investors grow wary of greenwashing and demand third-party...

October 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Skoda overtakes Tesla in Europe as EV buyers turn to cheaper alternatives

      June 25, 2025
    • Aston Martin resumes US exports after Trump tariffs lifted

      June 25, 2025
    • Bernie Moreno wants Senate to call for Nobel Peace Prize to go to Trump

      June 25, 2025
    • Iran, Israel and US agree that Islamic Republic nuclear sites were ‘badly damaged’ despite leaked intel report

      June 25, 2025
    • UN’s atomic agency’s Iran policy gets mixed reviews from experts after US-Israel ‘obliterate’ nuclear sites

      June 25, 2025
    • Democratic congressman hurls profanity-laced message at Stephen Miller

      June 25, 2025

    Categories

    • Business (8,313)
    • Investing (2,072)
    • Politics (15,801)
    • Stocks (3,167)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved