The dollar was strong against the pound and the euro yesterday, despite a surprise dip in manufacturing activity. The ISM Manufacturing figure fell to a 10 year low, tumbling to 47.8 and missing expectations of a rise to 50 from 49.1. This fall is reportedly a consequence of the ongoing trade war and a sign that tariffs are taking their toll.
The first of a series of speeches from Federal Reserve officials began yesterday, with Chicago Fed President Charles Evans indicating that they may have delivered enough rate cuts to lift inflation.
As part of their impeachment inquiry into the President, the Democratic Party have demanded records from Trump’s personal lawyer, Rudy Giuliani. Giuliani has admitted to asking Ukrainian officials to investigate Trump’s political rival, Joe Biden, and so lawmakers have issued a subpoena for all records of communication.
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