Following last week’s Trump’s comments – twice – on the Federal Reserve, the US President brought FED under criticism again. “My biggest threat is the Fed” he said and he added that “I put a couple of other people there I’m not so happy with”.
Last week’s comments on FED were that it was raising interest rates so swiftly it threatened the country’s economic health. Past U.S. presidents have been reticent to criticize the central bank because its independence is seen as important for economic stability.
Forex news – Bits & Pieces from Reuters – FED under criticism
Iran calls U.S. efforts to cut its oil exports to zero ‘political bluff’.
Don’t mention the oil price – U.S. legal threat prompts change at OPEC. The oil producing group has urged its members not to mention oil prices when discussing policy as seeks to avoid the risk of U.S. legal action for manipulating the market.
A Brexit deal is not far away and could be reached in the coming weeks, said French finance minister on Wednesday. Nevertheless, Le Maire warned that Britain had to abide by European rules access to the single European Union market.
Trump administration says to open trade talks with EU, UK, Japan. The U.S. Trade Representative’s office told Congress on Tuesday it intends to open such trade talks.
Prospects for a new treaty cementing ties between Switzerland and the European Union, its biggest trading partner, appeared to fade on Wednesday as four years of negotiations failed to produce a breakthrough by the EU’s mid-October deadline.
The dollar rose for a second consecutive day on Wednesday as firmer stock markets fuelled demand for the greenback. However, the release of U.S. Federal Reserve minutes later in the day kept gains in check.
The British pound was the biggest loser against the dollar, with lower than expected UK inflation data weighing on sterling.
Sources: Reuters, CNN money, BBC
PLEASE NOTE The information above is not investment advice.