020 7898 0500The dollar (USD) is lower across the board, after Donald Trump stated the dollar’s strength against the Chinese Yuan “is killing us”. Once again highlighting his combative stance against the world’s number two economic power. President-elect Trump demonstrated a completely different approach to politics, compared to Theresa May’s firm but collaborative speech today, which saw sterling (GBP, pound) experience its biggest intraday gain against the dollar since 2008. The dollar fell to a 4 week low on Tuesday against its 10 most commonly traded currencies, with the sell-off further exaggerated by Monday’s public holiday in the US. Contributing to the dollar sell-off were a number of analyst, who stated that the dollar may have reached its peak when it touched 14 year highs earlier this month. The dollar had surged at the backend of 2016 as markets anticipated stimulus from Trump that would result in economic growth, inflation and faster interest rate hikes.
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