The trade spat between US and China appeared to hurt commodities and commodity currencies, with China threatening retaliatory tariffs on Friday.

The trade spat between US and China appeared to hurt commodities and commodity currencies, with China threatening retaliatory tariffs on Friday.

The US dollar surged after a dovish ECB statement which announced an end to bond purchases but also said no rate hikes before summer 2019. The EUR currency and European bond yields fell sharply, and European equities rose.

The US dollar surged after a dovish ECB statement which announced an end to bond purchases but also said no rate hikes before summer 2019. The EUR currency and European bond yields fell sharply, and European equities rose.

The US dollar surged after a dovish ECB statement which announced an end to bond purchases but also said no rate hikes before summer 2019. The EUR currency and European bond yields fell sharply, and European equities rose.

The US dollar and US bond yields jumped after the Fed hiked by 25bp to 1.875% and signalled two more hikes this year. However, the reactions were reversed during the press conference, as Fed Chair Powell’s tone didn’t quite match the statement’s.

The US dollar and US bond yields jumped after the Fed hiked by 25bp to 1.875% and signalled two more hikes this year. However, the reactions were reversed during the press conference, as Fed Chair Powell’s tone didn’t quite match the statement’s.

The US dollar jumped after a WSJ report that Fed Chair Powel is considering holding press conferences after every meeting, rather than only after the major quarterly meetings. One implication could be that every meeting becomes “live”. The jump in the USD dented the other major currencies, but interest rate markets were unfazed. US equities are unchanged.

The US dollar jumped after a WSJ report that Fed Chair Powel is considering holding press conferences after every meeting, rather than only after the major quarterly meetings. One implication could be that every meeting becomes “live”. The jump in the USD dented the other major currencies, but interest rate markets were unfazed. US equities are unchanged.

The US dollar jumped after a WSJ report that Fed Chair Powel is considering holding press conferences after every meeting, rather than only after the major quarterly meetings. One implication could be that every meeting becomes “live”. The jump in the USD dented the other major currencies, but interest rate markets were unfazed. US equities are unchanged.