The European Union’s trade talks mandate has been agreed by the General Affairs Council, with a heavy emphasis on regulatory alignment. The markets were perhaps more sensitive to yesterday’s poor GDP data from Germany, with the euro weakening initially. However, the pound is softer against the euro this morning.
The dollar is steady today, but could react to worries over the US economy being impacted by the coronavirus. Today’s economic releases for the US include new home sales, which are expected to show a slight increase.
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