The dollar weakened slightly last night as fears of a trade war between America and Europe rose following Tweets from Donald Trump. Business optimism came just above forecast, at 101.8 instead of 101.3, in a sign of positivity for the US.
Increased tariffs on EU goods coming into the US look more and more likely. Donald Trump Tweeted yesterday morning that ‘The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs [sic] on $11 Billion of EU products! The EU has taken advantage of the U.S. on trade for many years. It will soon stop!’
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