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April 2017

Sterling rises after Trump’s comments

Published: Thursday 13 April 2017

  • Sterling rises after Trump’s comments
  • Bank of Canada holds rates at 0.50%
  • UK markets closed over the Easter Break
By Charlie Horsley
The US Dollar tumbled broadly and is now trading as the weakest major currency after US President, Donald Trump, talked down the exchange rate.
In an interview with the Wall Street Journal, US President, Donald Trump, complained that the US Dollar is getting too strong and that ultimately that will hurt. On interest rates, Trump affirmed his preference over a low interest rate policy – this has seen the Pound rise to above 1.25 against the US Dollar, and the commodity currencies are broadly higher.
The Bank of Canada appeared confident over the economic growth outlook, although it maintained the policy rate unchanged at 0.50% yesterday. The central bank upgraded the Gross Domestic Product (GDP) growth forecast for this year amidst strong housing market activities in the first quarter.
In Australia, the Australian Dollar has been boosted by strong employment data today. Employment grew 60.9k in March; triple the expectation of 20k.
Today, there is a raft of inflation and Producer Price Index (PPI) data from Europe, as well US employment figures, which will be released this afternoon.
The UK markets are closed over the Easter break, but the global markets will continue to move over the weekend – please contact your Halo Financial currency consultant to discuss strategies over the holiday period.
Happy Easter everyone.

Easter jokes

How do bunnies stay healthy?
How can you find the Easter bunny?
Eggs (x) marks the spot
What is the end of Easter?
The letter R 

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