The Pound gains Significant Strength after Tuesday's announcement were halted after the International Monetary Fund warned that Brexits unpredictable outcome poses a risk to global financial stability
Please find RationalFXs daily market report for today together with all the economic data/times for todays event(s):
GBP
The Pound's gains after Tuesday's announcement were halted after the International Monetary Fund warned that Brexits unpredictable outcome poses a risk to global financial stability at a time when it is already challenged by heavily-indebted US corporations, Chinas credit bubble and weak European banks.
The IMF warned that banks were likely to be the sector of the City hardest hit by Britains departure from the European Union and that the costs of doing business would rise and regulation would become more complex.
Whilst they acknowledged that there was significant uncertainty about the outcome of the two years of Article 50 negotiations, it added that the challenges stemming from Brexit could undermine financial stability in ways that are difficult to estimate or predict at this juncture.
USD
During yesterdays session US Treasury Secretary Steven Mnuchin said that President Donald Trump is "absolutely not" trying to talk down the strength of the dollar.
Trump said last week in an interview with the Wall Street Journal that the dollar was "getting too strong", and backed away from labelling China a currency manipulator which he had promised during his campaign. Despite this, Mnuchin directly rejected the idea that Trump was trying to talk down the dollar, saying "Absolutely not, absolutely not."
Key Announcements
13:30 USD - Philly Fed Manufacturing Index
13:30 USD - Unemployment Claims expected to increase to 241k
16:30 GBP - BOE Gov Carney Speaks
17:30 GBP - BOE Gov Carney Speaks
18:15 USD - Treasury Sec Mnuchin Speaks
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