The dollar is strong this morning against both the pound and the euro, helped by a rise in US treasury yields and the increasing possibility of a 25 basis point interest cut, rather than a 50 basis point cut. The greenback has reached one-week highs this morning. Friday’s GDP data will possibly reveal more about the kind of rate cut we can expect.
It has also been helped by news that Treasury Secretary Steven Mnuchin is due to visit China next week in the hope of making progress in reaching a US-China trade deal, in order to ease tensions between the two nations.
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