020 7898 0500Saturday was the 100th day of Trump’s presidency – a period of time often analysed to measure the successes and accomplishments of a president. While he was able to confirm Neil Gorsuch as an Associate Justice of the Supreme Court of the US, he was unable to do many of the other things he pledged he would.
His approval rating is currently lower than any first-term president at this point in their tenure.
The dollar was stable yesterday, as US bond yields soared following comments from Treasury Secretary Steven Mnuchin regarding ultra-long bond insurance.
The focus today shifts to the Federal Reserve’s (Fed’s) interest rate announcement, where futures prices suggest there is only a 14% chance of a change in monetary policy. The markets are still pricing in a 70% chance of a change in June.
Most analysts agree that the recent downturn in economic data is enough to make the Fed pause for breath and potentially reconsider its rate hike plans. The dollar markets will be waiting anxiously on any soundbites provided by the Fed for further clues.
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