Yesterday’s hotter-than-expected US inflation data prompted a reassessment of rate cut expectations, driving yields and the US dollar higher. Although most stocks fell, the S&P 500 managed to eke out a marginal gain, largely due tothe strong performance of major tech companies. Notably, Intel’s stock jumped on news that the Trump administration was considering taking a stake in the beleaguered chipmaker. Attention now turns to the upcoming Trump-Putin summit, where discussions may significantly impact safe-haven assets like gold and the Swiss franc. To explore the potential implications and trading opportunities, Thomas Caflisch, Head of FX/PM Solutions, shares his insights.

• (00:00) - Introduction: Helen Freer, Product & Investment Content

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