020 7898 0500On Monday night, Trump gave an interview to Reuters in which he once again attacked the Federal Reserve for its interest rate rises. On his choice of Jerome Powell as Fed Chair, he said “I don’t have an accommodating Fed. Am I happy with my choice? I’ll let you know in four years. I’ll let you know in seven years…I’m not thrilled with his raising of interest rates. No, I’m not thrilled.”
That was enough to weaken the dollar throughout yesterday and sterling and the euro benefited from the president’s comments. Later in the day the dollar weakened further after the FOMC minutes were released.
Today we also have existing home sales for July. They are expected to climb a little to 5.4 million from 5.38 million the previous month.
