020 7898 0500The dollar lost some ground against the pound yesterday following Donald Trump’s continued inability to refrain from posting controversial Tweets. One wonders what would happen if Jack et al. ever suspended his account. On Sunday, Trump had said he would always be friends with Xi, but he followed that up with another Tweet on Monday that was less polite.
It made for a turbulent day for the stock markets which had enjoyed a positive start before falling back from their best levels. It is impossible to determine what will happen next in this ongoing saga but let us remember that it is all bluster at the moment. Nothing has actually been put in place and there is still time for Trump and Xi to douse the flames.
It’s a quiet affair for economic data today, but there is no such thing as a quiet day with Trump and perhaps he will send another Tweet that sends the markets moving once more. It will be interesting to see what happens to the dollar against sterling throughout the week as it was a poor start for the greenback.
