USD: Trump says “You’re fired,” yet again as geopolitical tensions escalate once more

Over the weekend we learned that Steve Bannon, who served as the White House Chief Strategist, had been fired by Donald Trump. We expected some movement when markets opened yesterday, but it appears investors have become desensitised to the departure of key members of Trump’s administration.

There wasn’t much in terms of economic data yesterday, but we did see the US dollar weaken, primarily as a result of rising tensions between North Korea and the US, as computer-simulated military exercises have begun. North Korea apparently views these exercises as preparation for invasion.

The main focus this week is the annual central banking conference in Jackson Hole, where the world’s top central bankers may hint at changes in monetary policy. It’s certainly worth keeping an eye out for any movements on Friday afternoon.