The US imposed a 37% reciprocal tariff rate on goods from Bangladesh as part of Trump’s growing trade war with countries around the world.
Migrant workers from Asia’s developing countries, such as Bangladesh, have been sending home record amounts of money in recent months, defying pandemic expectations and propping up home economies at a critical time. However, it appears workers are just sending money home in advance of their own return due to a bleak job market, particularly in the Middle East.
GBP Weekly Market Overview
Updated 18 Jul 2026 • 23:47 GMT
The British Pound continues to navigate a landscape dominated by political uncertainty and economic pressures. The ongoing leadership challenges facing UK Prime Minister Starmer, alongside the Labour Party's setbacks in local elections, are undermining market confidence. Meanwhile, the Bank of England's inclination toward monetary tightening provides somewhat of a counterweight, as hawkish signals from policymakers boost expectations of further rate hikes. External factors, such as volatile energy prices due to Middle East tensions, coupled with rising UK gilt yields, are also impacting the GBP, presenting both risks and potential opportunities for investors.
- Political dynamics within the UK, particularly around leadership challenges and party stability, are critical watchpoints.
- Bank of England's policy trajectory remains crucial, with market participants anticipating further tightening measures.
- Global risk sentiment and energy market fluctuations continue to exert influence on GBP stability and performance.