The Pound Sterling extended its gains versus the US Dollar on Tuesday as the latter continued to plunge, due controversial trade policies by US President Donald Trump, adding an additional 25% in aluminum and steel imports from Canada, as the latter apply duties on electricity imported to New York, Michigan and Minnesota.

GBPUSD has been treading water around the 1.2923 level, struggling to gain further traction after its March bull run stalled near the upper boundary of its bullish channel.

GBP/USD climbs above 1.2920 as trade war fears weaken USD The Pound Sterling extended its gains versus the US Dollar on Tuesday as the latter continued to plunge, due controversial trade policies by US President Donald Trump, adding an additional 25% in aluminum and steel imports from Canada, as the latter apply duties on electricity imported to New York, Michigan and Minnesota.

The GBP/USD pair recovers recent losses from the previous session, trading around 1.2890 during Asian hours on Tuesday.

The GBP/USD pair edges lower during the Asian session on Wednesday and erodes a part of the previous day's strong move up to over a four-month peak, around the 1.2965 area.