Pound pops after McCafferty comments

Jarratt Davis

Special Consultant to the FPA
Sentiment update for the New York trading session, 10th April 2018

During today's London session, the market's focus has remained on the ongoing trade war and earlier comments from China's President Xi Jinping.

The overall risk positive tone remains intact although reports that the US has rejected China's offer to cut the trade deficit by USD 50bln did cause a temporary wobble with USDJPY briefly falling below the 107.00 handle.

Elsewhere comments from BoE's McCafferty has helped GBP print a fresh two-week high after stating that the Bank of England should not delay in raising rates after a strong pick-up in the world economy.