This morning, the dollar weakened against its rivals. Although impossible to predict, it is thought that it was set for its biggest weekly drop in more than three months before a US central bank meeting next week, where policymakers will shed more light on the outlook for interest rates.
Economic releases for the US included new home sales which were 6.9% down month-on-month against a forecast of a 1.3% drop.
President Trump said he wants ‘large scale’ trade deal with the UK, stating that ‘its potential is unlimited’. With regards to his trade deal with China, hopes are high as Trump stated that the US would probably know in the next three or four weeks about a possible agreement.
For today the biggest US data is the Michigan Consumer Sentiment, which is predicted to remain steady.
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