Aside from trade war jitters, hawkish talk from Fed President Jerome Powell helped boost the dollar last week. The central bank chief was testifying before the US Senate and affirmed the Fed’s plans to gradually raise interest rates “for now,” but warned of risks from an escalation of trade tensions. Meanwhile, there was a lot of focus on the UK last week as the Brexit saga continues, with little progress on the type of deal Britain will have when it leaves the EU next year.
Trade war rhetoric and Brexit
Weekly Report - 23/07/2018