The US dollar made marginal gains yesterday against rival currencies, the pound and euro, adding just under half a per cent to its Monday gains.
This boost may have been fuelled by steady US consumer inflation expectations, which were unchanged at 3% in August, matching June and July forecasts.
This morning, the Office for National Statistics revealed that the UK unemployment rate decreased to 4.1% in July from 4.2% in the previous period and compared to market forecasts of 4.2%. .The currency markets have yet to react.
A hard-hitting 400-page report from former head of the European Central Bank, Mario Draghi, sparked conversation yesterday, stating that the EU ‘needs €800bn-a-year spending boost to avert agonizing decline.’
Draghi continued, “We are already in crisis mode and to ignore this is to slide into a situation we don’t want to have.”
Over in the US, 10 former top military officials announced their endorsement of presidential candidate Kamala Harris in a letter warning that her rival, Donald Trump, is a “danger to our national security and democracy.” Harris and Trump will take to the stand for a debate tonight.
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