Sterling Rebounds Above $1.35

2026-02-20 15:41 By Joana Ferreira 1 min. read

Sterling recovered above the $1.35 level, attempting to claw back from its weakest point in a month, as the US dollar eased following the US Supreme Court ruling overturning President Donald Trump’s broad emergency tariffs.

Investors also digested strong UK economic data.

The latest S&P Global UK PMI showed private-sector activity expanded in February at its fastest pace since April 2024, led by robust growth in both manufacturing and services.

Retail sales surprised to the upside in January, rising 1.8% month-on-month including fuel and 2% excluding fuel.

Meanwhile, public sector net borrowing posted a £30.4 billion surplus, the highest monthly surplus on record, well above forecasts and exceeding projections from the OBR.

For the week, however, sterling was still on track for a more than 1% loss against the USD, pressured by Fed minutes showing policymakers remain divided on the interest-rate outlook, signaling potential challenges for the next Chair in implementing rate cuts.



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Sterling Rebounds Above $1.35
Sterling recovered above the $1.35 level, attempting to claw back from its weakest point in a month, as the US dollar eased following the US Supreme Court ruling overturning President Donald Trump’s broad emergency tariffs. Investors also digested strong UK economic data. The latest S&P Global UK PMI showed private-sector activity expanded in February at its fastest pace since April 2024, led by robust growth in both manufacturing and services. Retail sales surprised to the upside in January, rising 1.8% month-on-month including fuel and 2% excluding fuel. Meanwhile, public sector net borrowing posted a £30.4 billion surplus, the highest monthly surplus on record, well above forecasts and exceeding projections from the OBR. For the week, however, sterling was still on track for a more than 1% loss against the USD, pressured by Fed minutes showing policymakers remain divided on the interest-rate outlook, signaling potential challenges for the next Chair in implementing rate cuts.
2026-02-20