Sterling rose against the greenback yesterday, after positive Markit PMI figures yesterday. Reports from the US that the President’s threat of imposing tariffs on steel and Aluminum just a ‘political show’ has reassured the markets, the CAD however suffered a steep fall.
The GBP has been losing ground to the USD, sliding below the 1.40 mark, but as with other major currencies, all eyes on US events, especially on the speech today by new Fed Chair, Powell. A lively day today for the EUR and on the radar though, the Italian elections next week. How will the EUR be affected?