Euro hits two-year high
As investors mulled over the European Central Bank’s meeting the euro shot up to new heights. The single currency reached a high of $1.167 against the US dollar, adding 0.2% to its value.
Meanwhile, the dollar slipped 0.3% – its lowest level in just about a year. The drop came after US special counsel Robert Mueller is expanding the investigation into the possible scheme between Donald Trump and the Russian government to influence the US presidential election.
Equities ease
The rally that took US equities to fresh highs has eased. The most prominent US stock indexes smashed records, closing at historical highs on Wednesday, after technology stocks surpassed dotcom bubble levels.
Corporate earnings ignited a bullish sentiment across global equity markets. While earning’s season is still in its infancy, 83% of companies have outperformed expectations.
France vs. Brexit
France has insisted that the UK adhere to the divorce fee of up to €100 bn. France’s finance minister Bruno Le Maire said that while the amount due was negotiable, the fee must be paid.
It’s not all bad news for Britain as retail sales showed a rebound of 0.6% in June, as the hotter summer sent consumers out to buy new clothes.