The dollar has few friends in early European trade Tuesday, as the tone remains generally optimistic about the global recovery despite heightened concerns over U.S.-China tensions and civic unrest in many U.S. cities.
The pound eased from one-month highs against the dollar on Tuesday, after failing to break a key technical trading level after the U.K. dismissed reports that Prime Minister Boris Johnson was ready to compromise on key sticking points that have stifled progress in post-Brexit talks.
The dollar has sold off in early European trade Wednesday, with riskier assets in demand as investors look for more fiscal stimulus amid signs of a global economic recovery.
Protests return to Hong Kong and the U.S. expands its blacklist of Chinese companies. German business confidence rebounds a bit but Europe's largest economy was still in recession already by March. Spain said it will open its beaches and hotels, reviving battered European travel stocks, while Hertz Global and Tuesday Morning (NASDAQ:TUES) head for the bankruptcy courts. Here's what you need to know on a holiday-thinned Monday, May 25th.
The scent of post-pandemic freedom is in the air again, which must mean it’s time to buy tourism stocks.