020 7898 0500The dollar strengthened against the pound yesterday following the EC’s revised growth forecasts for 2017. In what has been a year for stilted growth, the EC decided that their initial forecast of 1.8% was too optimistic and they have changed it to 1.5%.
Meanwhile, Donald Trump continued his tour of Asia and spoke highly of his Chinese counterpart, Xi Jinping. While he acknowledged that the trade deficit between the US and China was huge, he also conceded that the US was to blame. He said “I don’t blame China. After all, who can blame a country for taking advantage of another country for the benefit of its own citizens? I give China great credit.”
At the same event, Trump and Xi announced more than €250 billion in economic deals, although there were some murmurs that these would have been agreed irrespective of whether Trump paid a visit.
The only major data release from the US today comes in the form if the Michigan consumer sentiment.
