The US Dollar has been trumped by Donald Trump after his disruptive comments following The Federal Reserve's rate decision saw Cable float around the 1.30 area. Donald Trump stated that the central bank would be much better off cutting rates as US tariffs begin to take effect from April 2nd.
This particular intervention shows the clear disparity between inflation and interest rates from the president, which has only gone further to cause uncertainty in the markets.
Sticking with Central Banks and rate decisions, the Bank of England have their decision at Midday today. Expectations suggest rates will be kept unchanged, and as ever the vote split between the members will be key. However, with average weekly earnings in The UK having grew by 5.9% year-on-year in the last 3 months, it further enhances the view that UK Inflation is heading one way, and ultimately in the wrong direction for The Bank of England.
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