Dayle Littlejohn
Senior Executive Dealer
President Donald Trump imposes fresh tariffs on China
President Trump announced that another $300bn tariffs are set to come into action in September, potentially making a trade deal in the future less likely.
Request a quoteUK President Donald Trump has been back in the headlines over the last 7 days as he announced that another $300bn tariffs are set to come into play at the beginning of September on top of the 25% on $250bn tariffs that are already in play.
Trump took to his twitter account to announce the news and blamed the Chinese as they have failed to buy bulk agricultural goods from the US like they had promised. Analysts are suggesting that it’s likely the trade war is set to escalate and the tariffs could be up to 25% in the upcoming weeks.
Will the Fed have to cut interest rates?
President Donald Trump has criticised the Federal Reserve this year as he believes the high interest rates and the strong US dollar is having a detrimental impact on the economy. Even though interest rates were cut last month analysts are suggesting that further tariffs could cause stress on the global economy and the central bank may have to intervene and cut interest rates further. History tells us when a central bank cuts interest rates the currency tends to devalue, therefore the highs that we are seeing for USD/GBP could come to an end in the weeks to come.
US inflation
It’s a quiet finish to the week for the US in regards to economic data. Going into next week inflation numbers are set to be released Tuesday afternoon. Inflation is forecasted to remain steady at 2.1%. This could be a deterrent to cut interest rates, however the inflation numbers could be irrelevant in the months to come if trade tariffs rise to 25%.
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UK
From the moment I spoke with Dayle he was very friendly and explained how Foreign Currencies Direct operated. He also explained about the fluctuating Sterling/Euro market. Would definitely use the company again & recommend them to family & friends.
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UK
I’ve dealt with Dayle Littlejohn for over a year now and can honestly say I’m completely satisfied. He has always been totally efficient and has never failed to deliver consistently excellent service. I shall continue to use him and the company for currency conversion for this simple reason. Well done.
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