The White House announces a potential extension to the reciprocal tariffs deadline. This could include the 50 per cent levy on the European Union. The EC president, Ursula Von Der Leyen confirms she has received Washington’s proposal of new trade discussions but struck a cautious tone ahead of any resumption in dialogue. The U.S. dollar sinks to a three-and-a-half-year low against the euro and sterling with markets now mulling the potential appointment of a more doveish Federal Reserve chairman by the U.S. president.

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