USD is broadly weaker against major peers on the back of comments from President Trump over the weekend that the USD is too strong, and it is prohibiting for business, taking further jousts at US Fed Chair Powell as someone who ‘likes raising interest rates’.
The Trump administration has taken an aggressive posture towards the UK on post-Brexit trade talks, demanding greater access to the UK market for its agricultural products and guarantees that London would not manipulate its currency. The US Trade Representative released an 18-page document seeking ‘comprehensive market access for US agricultural goods in the UK’ through the reduction or elimination of tariffs- something the US has struggled to negotiate with the EU previously.
Trump failed to secure a deal with North Korean Leader Kim Jong Un in Hanoi as the leaders cut short a summit designed to revive the path to denuclearisation. Trump stated the two had made progress since their first meeting last June, but the US is not ready to accept the North Korean demand to lift all sanctions.