The dollar is in a weak position this morning as it tries to recover from comments made by the Federal Reserve Chairman, Jerome Powell.
He indicated yesterday that there may be a rate cut on the horizon, a day after American factory growth hit its lowest figure in nearly a decade. Powell specifically mentioned disruption due to the ongoing trade wars, stating that “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion…”
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