At the time of this writing, the U.S. dollar was still down against most major currencies. The greenback fell on the back of an earlier report from Bloomberg – citing people familiar with the matter – that China is considering reducing or halting its purchase of U.S. government debt.
It’s been a very busy week for financial markets. The Bank of England has raised rates for the first time in a decade, Donald Trump has elected a new Fed Chair and his long awaited tax reform has been unveiled.
Investors itching for another opportunity to offload sterling, were given the thumbs up on Tuesday, after Bank of England officials sounded more cautious than anticipated during their testimony to Parliament.