The dollar is weak against the pound but strong against the euro today. A surge in US retail sales has allowed the greenback to hold onto its gains and eased concerns about a slowing economy. The report showed that sales rose by 0.7% last month, after a 0.3% growth in June.
Uncertainty surrounding the US-China trade war continues. President Trump has finally acknowledged that US consumers will have to pay something towards the cost of rising tariffs. On pushing the tariffs back to December he said, “We’re doing this for the Christmas season, just in case some of the tariffs would have an impact on US consumers.”
Meanwhile, President Trump has “expressed interest” in buying Greenland from Denmark. He has reportedly asked his aides to explore the possibility, and has sought the view of the White House counsel. The US already has a major airbase on the island. Denmark is yet to issue a response.
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