Much was made of U.S. President Donald Trump’s historic summit with North Korean leader Kim Jong Un but in the end there was no fireworks and it turned out to be a bit of a damp squib.
The market focus of the world is focused on the events taking place in Singapore, with history being made today as Donald Trump became the first sitting American president to meet face-to face with a North Korean leader.
After peaking at just over 125.00 in June 2015, the U.S. dollar/Japanese yen (USD/JPY) currency pair has been trending lower ever since.
It could be said that there is a cautious vibe across the financial markets on Tuesday, as investors brace for President Donald Trump’s announcement on the Iran nuclear deal later today.
After yesterday’s drop on Wall Street, sentiment improved overnight on the back of positive comments from Chinese president Xi Jinping. He struck a conciliatory tone, pledging to open China's economy and “significantly” lower tariffs on vehicle imports.
There are lots of questions that need be answered in the markets this week, chief among them being the short-term outlook for equity indices.
As mentioned earlier, the pound/U.S. dollar (GBP/USD) currency pair has rallied hard into long-term resistance around the 1.40 area, which was the low hit just before the Brexit vote in June 2016.

The market’s main focus remains fixated on developments in Washington. The dollar has started the new week on the back foot as U.S.