The dollar is weak against the euro and strong against the pound this morning. Markets look towards the first in a series of speeches from Federal Reserve Chairman Jerome Powell, whose comments may determine if there will be a rate cut at the end of the month. FOMC meeting minutes will also be released later today.
In US-China trade war news, the two nations have made first contact since a ‘truce’ was made at the G20 Summit. A phone call between officials reportedly went well, with economic advisor Kudlow saying that talks were constructive. It is expected that US officials will visit China ‘shortly’.
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.
