The US dollar continued to weaken slightly against the pound, and, following a spectacular jump (Perhaps investors were thinking of the many calls for parity!), the Greenback also started losing ground against the euro yesterday.
It was a relatively quiet day in terms of data releases. The ISM non-manufacturing purchasing managers’ index came out better than forecast yesterday and the final services PMI fell only ever so slightly short of expectations.
Today we’ll see revised non-farm productivity data, the US trade balance and factory orders, in addition to US bond sales, which could hint at how Trump’s recent appointments have affected investors’ projections on ‘Trumpflation’.