The pound falls below the 1.36 level against the dollar, with the market focusing on progress in trade agreements before the US tariff deadline.

The pound fell slightly against the US dollar to below 1.3600, and the market is closely watching the progress of the trade agreement before the final deadline for US tariffs on July 9. It is reported that the Trump administration is preparing to send tariff rate notification letters to countries that have not reached a trade agreement. This move may exacerbate global trade tensions and put pressure on risk currencies. In the UK, due to an increase in social welfare spending, the government may face the policy choice of raising taxes or cutting expenditures in the future, which also constrains the pound's trend.