020 7898 0500The US dollar gave up some of its gains on Friday due to weak economic data. Growth slowed more than expected in the final quarter of 2016 and exports fell 4%, the biggest quarterly drop since 2015.
GDP, however, rose 1.9% on an annualised basis in the fourth quarter of 2016. US durable goods orders unexpectedly fell 0.4% in December but orders for capital goods rose.
Trump still hasn’t answered the markets’ big questions surrounding fiscal policy.
The Federal Reserve’s first meeting of the year is scheduled for Wednesday. It is widely expected that the central bank’s position won’t change and we’ll get a clearer idea of when the planned interest rate hikes may happen.
