The dollar is looking strong against the pound and the euro this morning, offering little reaction to a fresh wave of tariffs on Chinese goods over the weekend. China has retaliated with tariffs on $75 billion of US goods. Despite this, President Trump has said “we are talking to China, the meetings in September, that hasn’t changed.”
More than 160 industry groups have written to Trump in opposition to the tariffs, due to the rising costs to US consumers. However, the President responded by calling these companies “badly run and weak.”
There will be a flurry of economic data releases for the US this week, with manufacturing PMI released tomorrow and Non-Farm Payrolls on Friday.
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