As two of the most powerful nations of the world battle internal politics, the rest of us (and the markets) anxiously watch.
UK and Brexit situation: The European Commission has announced that it would be sending a ‘letter of formal notice’ for breach of Withdrawal Agreement by the UK.
US Democrats vs Republicans: Nancy Pelosi, the House Speaker has commented that although “the Republicans and Democrats are still far apart on state and local aid, she is still optimistic about reaching a deal”.
It is set to be an extremely eventful year in US politics – not only it is election year, but the US economy is facing what is seeming to be unprecedented challenges as the onset of the pandemic. Stay tuned for the release of the NFP today.
- EUR/USD was seen to hit a weekly high of 1.1769
- GBP/USD closed the day with modest losses.
- USD/JPY remained around the 105.50/60 levels.
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