Fears of a trade war being reignited after Trump’s remarks on car tariffs led the dollar/yen pair to slide below 109.50. Meanwhile, the FOMC minutes released on Wednesday were not as hawkish as markets would have expected and this weighed on the greenback as well. The Fed did indicate it was on track for a rate hike in June but investors would have liked to have seen a clearer signal on more rate increases than the two additional rate hikes this year that are already priced in by the markets.
BoE Could Boost the Sterling
Daily Analysis - 24/05/2018