The US is set to implement additional tariffs on Chinese goods totalling $34 billion as of the 6th of July.
China has come out saying they are “fully prepared” for a trade war with the US, with little sign of an end to mounting tensions. As a result, global equity stocks closed weaker yesterday as fears over a trade war continue to do the rounds.
Don’t expect too much volatility today as US markets will be closed for Independence day. It quite possibly could be a holiday in England as well following the Poms narrow victory over Colombia last night!
All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.