US mulls exiting NATO – The Telegraph

United States (US) President Donald Trump said to the United Kingdom (UK) Daily Telegraph that he is strongly considering pulling the US out of the North Atlantic Treaty Organization (NATO). Trump added that he always knew NATO was a 'Paper Tiger'.

Market reaction

No immediate impact of Trump's comments was observed on the US Dollar (USD). As of writing, the US Dollar Index (DXY) is down 0.35% to near 99.50 due to hopes of a ceasefire in the Middle East.

Apr 1, 2026

AUD/JPY rises to near 110.00 as Middle East tensions de-escalate

AUD/JPY gains ground for the second consecutive trading day, trading around 110.10 during the European hours on Wednesday. The currency cross appreciates as the risk-sensitive Australian Dollar (AUD) receives support amid de-escalating Middle East tensions.

GBP: Energy vulnerability threatens recent resilience – MUFG

MUFG’s Head of Research Derek Halpenny warns that the Pound’s (GBP) strong March performance looks vulnerable. He links Sterling’s gains mainly to yields, while highlighting the UK’s rising energy import dependency, shrinking refinery capacity, and risks of refined fuel shortages.