The dollar strengthened yesterday on cautious optimism ahead of President Trump’s speech on trade. He was expected to announce a delay on EU auto tariffs and also to comment on the progress of a ‘phase one’ deal with China.
However, Trump’s speech was perhaps less optimistic than hoped, as he said that he was impose more tariffs on Chinese imports if a phase one agreement couldn’t be reached.
There will be a series of inflation rate data releases for the US today, as well as a testimony from Federal Reserve Chairman Jerome Powell. He is expected to reiterate the Fed’s stance to interest rates – that they will act if the economy worsens.
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