What you need to know on Tuesday, May 26th:
It was a dull start to the week, with the US and the UK on holiday. Those equities markets that were opened closed in the green, despite persistent tensions between the US and China. Protesters hit back Hong Kong streets after China imposed a new national security law. The US government has menaced to fight against such action, leaving Beijing and Washington at a brink of a cold war.
The EUR/USD pair continued to hover around 1.0900, finding support in a better than expected German IFO survey, which showed that the business climate began improving.
The Pound was hit by a political scandal as PM Johnson’s chief adviser Dominic Cummings, as he crossed England driving in the middle of the lockdown, to visit his parents. Anger arose among UK people forced to remain in lockdown by that time, calling for Cummings’ resignation.