Sterling rose against most major rivals on Friday after US President Donald Trump exempted cell phones and computers from his aggressive tariffs, providing some relief to tech companies.

The GBP/USD pair moved in a tight sideways range above $1.3250, heading for a weekly profit.

Trading remains very thin due to the Good Friday holiday with global financial markets closing.

The European Central Bank cut interest rates by 25 basis points to 2.25% as expected by most analysts today.

Its the seventh consecutive rate cut as the ECB attempts to boost the struggling eurozone economy amid a trade war with the US.

ECB President Christine Lagarde said that tariffs represent a shock, but their impact on inflation remains unclear.

On trading, GBP/USD rose 0.2%% as of 20:05 GMT to $1.2387.

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