Sterling Pound continues to rise for the fourth day in a row to hit a 3-week high of 1.3995 as the US dollar weakened, especially following the removal of the US Secretary of State, this came despite official reports by British finance minister Philip Hammond on growth slowing over the next five years.
While the markets are concerned about renewed concerns about the talks of Brexit, as EU's rejection of some British proposals on the trade deal, the pound is still trading near its highs and is currently trading at 1.3960, slightly down following political tensions between Britain and Russia Currently under way.
On the other hand, somewhat positive PPI data in the US helped the USD recover somewhat, pushing the USD index from its lowest since March 8 at 89.52 to current levels of 89.77.
Signs of a trade war are still in place after Trump threatened to impose a $ 60 billion tariff on Chinese imports to press US stocks and the US dollar to stay near a one-week low.
In its monthly report, OPEC raised its forecast for global oil supply to non-members in 2018 as rising prices encouraged US shale producers to increase production. Currently, US crude is moving in a short term bearish trend at $ 60 a barrel levels. Waiting for US crude inventories data later in the day.
