The European Commission cut its growth forecasts yesterday morning, highlighting a range of external economic pressures, uncertainty around a ‘disorderly Brexit’ and a slowdown in manufacturing.
Meanwhile, the pound saw a small dip after the Bank of England announced its decision to keep rates on hold, as expected – but two policymakers voted for a cut, for the first time since 2016.
Continued optimism over progress on US-China trade talks kept the dollar strong yesterday. Chinese officials are said to have suggested that the two economies are coming closer to a deal, including scrapping tariffs.
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