020 7898 0500Trump’s decision to withdraw from the Iran deal continued to dominate the headlines yesterday, with oil hitting $77 a barrel for the first time in four years. The price increase was also driven by news that the US’s reserves of crude and refined oil fell sharply. Economists had expected the number to decline by 719,000 but the figure actually fell by 2.2 million.
The dollar pretty much traded sideways against the euro and sterling throughout the day (eventually making some extremely small losses), which shows remarkable consistency for the dollar in recent times. It has managed to come back from what was a pretty dismal start to the year to hit some fresh highs of late.
Today we will see the inflation rate for April, as well as initial jobless claims up to 5 May 2018.
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