020 7898 0500On an otherwise quiet day, the headlines were dominated by Trump’s announcement on the Iran Deal. On Monday, Trump sent a Tweet (obviously), saying he would be announcing his decision on the Iran Deal at 2pm (7pm BST). The world held its breath and waited for the decision.
As widely expected, President announced that the US would be withdrawing from the deal, saying: “It is clear to me that we cannot prevent an Iranian nuclear bomb under the decaying and rotten structure of this deal.” The US treasury will begin re-imposing sanctions on Iran’s oil, precious metals and aircraft exports within months. This will also include Iran’s attempts to buy US currency.
Today is a pretty quiet affair, but tomorrow we will see the inflation rate for April. It is expected to have pushed up a little to 2.5% from 2.4% the month before. We will also see initial jobless claims up to 5 May 2018.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
