Donald Trump says the Fed is like a stubborn child

The major currency pair is flying up. Bulls are ignoring the drop in the German IFO Business Climate Index to 97.4 from the last month’s 97.8, the IFO statement that the German economy is depressed, and Robert Kaplan’s speech. Dallas Fed President Robert Kaplan says the uncertainty around trade wars and global growth holds the US economy back but, at this stage, it is too early to decide if the interest rates need to be cut. The bond market is confident in the federal funds rate cut at the FOMC.