This morning, dollar is weak against the euro and stronger against the pound. It still appears to be suffering from the Federal Reserve’s dovish interest rate announcement, with two cuts expected before the end of the year.
A former Fed governor has said that if President Trump removes Jerome Powell as chair, it would cause market ‘turmoil’.
Causing controversy at home and abroad, it has been reported that Trump had approved a military strike on Iran after an American drone was shot down, but then retracted from launching the attacks. It’s currently not clear as to whether he simply changed his mind or if logistics and strategy drove the change of plans.
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.
