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Prime Minister May Seeks Delay to Brexit | Fed Chair Powell Set to Testify
Published February 26, 2019
Trump has arrived in Vietnam an organized summit with North Korean leader Kim
Jong Un. The White House has set low expectations for the meetings, as the two nations
have yet to agree on denuclearization.
Theresa May has indicated further delays to the March 29th Brexit date as
increasing pressure to ensure the UK does not leave the EU without a deal mount.
The pound is rallying as the probabilities of Britain exiting the union are
seen to be diminishing, with sterling trading over 1.3200.
Reserve Chairman Jerome Powell is set to begin testimony before Congress this
morning as concerns arise among legislators over rising interest rates. The
expectation is that Powell will speak on weaker US economic data as well as the
Fed’s strategy on decreasing its balance sheet.
dollar is trading lower against the greenback this morning, with the pair up
0.25% to 1.3220. Economic data that is set for release later today includes
Canadian corporate profits, as well as US CB Consumer Confidence.