Political uncertainty in the US and global geopolitical risks continue to dominate the headlines at the end of the week and investors are somewhat confused from the diverging news. President Trump's inability to implement his plan of reforms came under doubt once more yesterday when rumors that his Chief Economic Advisor Gary Cohn planned to resign hit the wires. The rumor was later denied but the Dollar took a turn for the worse after the news and the stock markets pushed lower.
The US Dollar remains on the forefront but for all the wrong reasons as the US currency didn't have the best of days yesterday following both political and economic developments. US President Donald Trump has come under fire for his reaction to the violent protests in Charlottesville and yesterday the US President decided to disband his business advisory committees.
The British Pound will dominate headlines this morning in light of the employment data report pending for release and interest will be high as the currency has been under pressure over the past 48 hours. The Pound had been trading with a heavy bias last week as geopolitical tensions rose in the Pacific but was also able to remain above the key 1.2950 support.
There is a host of important news and reports for investors to pay attention to coming from all fronts today. The easing of tensions between the US and North Korea was supposed to help the higher beta instruments like the Euro and the Pound but it seems that the fear of escalation is not out of investors' minds yet.