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12 May 2025

US Treasury Sec. Bessent: Both sides on reciprocal tariffs will move down 115%

US Treasury Secretary Scott Bessent is speaking at the scheduled briefing on the first round of high-level US-China trade talks held over the weekend in Geneva, Switzerland.

Key quotes

  • We have reached an agreement on a 90-day pause and substantially moved down tariff levels.
  • Both sides on reciprocal tariffs will move down 115%.
  • Very good personal interaction, both sides represented national interests well.
May 12, 2025

EUR/GBP edges lower below 0.8450 on dovish ECB tone

The EUR/GBP cross extends the decline to around 0.8435 during the early European session on Monday. The Pound Sterling (GBP) strengthens against the Euro (EUR) due to positive developments surrounding the United States (US) and the United Kingdom (UK) trade agreement last week.
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May 12, 2025

EUR/INR today: Indian Rupee cross rates mixed at the start of the European session

Indian Rupee (INR) crosses trade mixed at the start of Monday, according to FXStreet data.
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