The latest round of US trade negotiations with China, went well, according to Treasury Secretary Scott Bessant. It appears an agreement over the ownership and management of TikTok, has also been settled. The US Dollar was in steep decline, ahead of the much-anticipated rate cuts, expected by the Fed at tonight’s announcement. The EUR soared to 1.1860, while the GBP hit 1.3650, ahead of important UK inflation data and the Bank of England rate decision.The weaker reserve allowed further gains of commodity currencies, with the AUD heading back towards 0.6700, while the NZD is once again approaching 0.6000. Attention is focused on the Fed, the extent of the rate cuts and associated commentary.
