FED Meeting Today

The much anticipated FED meeting is upon us. The FED is expected to lower rates for the first time since 2008.

Whilst a 25 basis point cut is virtually written into the market there is a lot of speculation that there will be more offered in the forward guidance. Will it be one and done or will there be more on offer.

Asian markets are lower on US/Chinese trade concerns as Trump indicates that if re-elected he is prepared for the situation in terms of trade tariffs to worsen.

The pound continues to come under pressure but found its first semblance of support for a couple of days in the 1.2135-40 range. The pound has lost 2.6% in value versus the USD since Boris Johnson took control of the Conservative party and is due a rebound