The dollar is weak this morning amid continued US-China trade tensions. Despite escalations last week and over the weekend, President Trump said at the G7 summit that Chinese officials had offered to return to the negotiating table. Despite this, there is still much uncertainty as to how these talks will unfold.
Making a speech at the Jackson Hole event on Friday, Federal Reserve Chair Jerome Powell said that the global economic outlook “has been deteriorating.” Whilst not revealing the likelihood of future rate cuts, he said that the Fed “will act as appropriate to sustain the expansion.”
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