The dollar is weak against both the pound and the euro as the G20 summit has got underway. President Trump and President Xi Jinping are due to meet tomorrow to discuss ongoing trade issues between the two countries, and hopefully finalise a deal.
The summit is expected to be dominated by US tensions with Iran and the US-China trade war. President Xi Jinping will also discuss concerns about Huawei with Donald Trump.
Yesterday, US GBP growth rate for the first quarter of this year grew by 3.1%, a figure that was left unchanged from its estimate last month. However, growth in consumer spending was revised lower and business investment in intellectual property products was stronger than previously estimated.
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