Market Brief: Sterling Strong, Stocks Shrug Off Starting Struggles

Matt Weller
By :  ,  Head of Market Research

View our guide on how to interpret the FX Dashboard.

  • Fed Chairman Powell had an unscheduled meeting with President Trump and Treasury Secretary Mnuchin at the White House this morning; both sides claim the meeting went well and did not discuss the impact of politics on central bank policy (we’re skeptical).
  • FX: The pound was the strongest major currency on the day (see here and here for more), while the Australian dollar brought up the rear.
  • Commodities: Oil shed over 1.5% on the day while gold was essentially flat. Cryptoassets saw a quick dip across the board after market leader bitcoin broke below previous support near $8350.
 

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