The dollar was mostly unchanged yesterday ahead of and after a speech from Federal Reserve Chair Jerome Powell. Powell hinted that the Fed is likely to keep interest rates steady, however noted that inflation has run well below the 2% level for 2019 despite three interest rate cuts over the past four months.
Today, we’ll see the release of a series of data for the US, including new home sales and wholesale inventories. Home sales are expected to rise from the previous monthly figure of 701,000.
Meanwhile, former major of New York, Michael Bloomberg, has joined the 2020 presidential race. Running to be Democratic Party’s nominee, he said he was standing to “defeat Donald Trump and rebuild America.”
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
