The dollar has hit a three-week high this morning, after the Federal Reserve Chairman Jerome Powell argued against cutting interest rates due to a high level of corporate debt.
In US-China trade news, US officials have said that they will put a series of exemptions in place to the Huawei blacklist. This would give some suppliers and customers a 90 day reprieve from the trade penalties, and hopefully ease trade tensions between the US and China.
However, China are aiming to raise tariffs on $60 billion of US products next month in retaliation. It has been said that the scale of these tariffs will struggle to measure up to the tariffs put in place by Washington.
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