After strengthening yesterday, the dollar looks weaker this morning ahead of the release of FOMC minutes later today. It initially strengthened on news that President Trump is postponing stimulus talks until after the Presidential election on November 3rd.
Trump tweeted to announce that talks would be postponed, which prompted comments from Federal Reserve Chairman, Jerome Powell. He said that the US economy could find itself in a downward spiral if more support is not given. Speeches from more Fed officials and the meeting minutes will reveal what others think of the economic outlook.
The first Vice-Presidential debate will take place in the early hours of tomorrow morning between Mike Pence and Kamala Harris.
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.
