Pound closes in on three-year high as concerns over US tariffs mount

The pound gained ground against the dollar amid concerns over Donald Trump’s trade policies, climbing 0.7% to $1.356 on Monday. The move followed a rally starting earlier this year as Trump ascended the political scene and after Goldman Sachs noted that increased tariffs could boost the US currency. Meanwhile, China accused the U.S. of breaching a recent trade deal, prompting its Commerce Ministry to take firmer measures to protect its interests. Although Trump and Xi Jinping are expected to communicate soon via phone call, a direct meeting has not been scheduled yet.