Market News

The Pound Sterling earlier struck a 3-week peak versus the US Dollar during London trading, largely the result of the Dollar’s broad softness in the wake of the Rex Tillerson dismissal yesterday.

U.S. President Donald Trump is mulling the possibility of tariffs on up to $60 billion on 100 products of Chinese imports in the telecommunications and technology sectors.

Along with the Euro and the Pound, the US Dollar surged against the Japanese Yen and approached a 2-week peak on the heels of news of a geopolitical scandal brewing in Japan.

Oil prices were broadly lower during Tuesday’s Asian session as investors weighed concerns that increased U.S. production could keep inventories high and maintain pressure on prices.

South Korean Finance Minister Kim Dong-yeon announced on Monday that “[South Korea] will make clear what our stance is […and] deploy all possible means to respond to U.S. steel tariffs measures and make an all-out effort.”

The common currency Euro moved higher during trading on Monday as investors’ worries over a brooding trade war seem to have ebbed.

Asian stock markets started the week higher on Monday morning after Friday’s strong U.S. jobs eased inflation fears and increased risk appetites.

This week will see a much lighter news agenda, with major central bank input expected only from the Swiss National Bank, but there will be a British government budget release and some important U.S. inflation retail sales data released.

The Japanese Yen fell against the US Dollar during the Asian trading session on Friday on hopes that the nuclear standoff with North Korea might now be abating.

The Pound Sterling was lower in Thursday trading with worries over the Brexit talks keeping currency traders jittery.

Asian markets steadied during Thursday’s Asian session after U.S. President Donald Trump hinted that he may reduce the tariffs for some strategic partners.

The US Dollar is higher but remains close to a 14-month trough versus the Japanese Yen.

Asian markets weren’t the only ones to struggle after Gary Cohn, U.S. resident Donald Trump’s top economic advisor quit on Tuesday; European markets were also broadly lower following the news.

Global markets and the dollar were under pressure on Tuesday morning after Gary Cohn, director of the National Economic Council and one of U.S. President Trump’s top advisors, announced his resignation.

The Pound Sterling had eked out gains against the US Dollar and the Euro as FX traders sold off their holdings in the able amid continuing doubt over whether a transition deal can be brokered between the European Union and Britain.