The dollar reached a near two-month high yesterday and remains strong this morning ahead of the Federal Reserve’s interest rate decision tomorrow. Ahead of a possible 25 basis point cut, which is widely expected, President Trump tweeted that a small ‘insurance’ cut would not be enough. The Fed are also likely to give some forward guidance for interest rates, which could also have a bearing on the dollar.
US-China trade talks will resume in Shanghai today. US companies have stated that the trade war is taking its toll on business, but they are finding ways to minimise the impact.
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