Filmed by Rod Fitzgerald. Produced and edited by Filip Fortuna.
KATIE MARTIN: From the "FT" in London, here's the latest on markets. The dollar continues to stumble, challenging the popular trade to buy it after the victory of Donald Trump in the US elections. The greenback is now back down to where it was in mid-November in the days after his stunning victory. What's going on?
Well, the Federal Reserve overnight has doused some of the more exuberant expectations for a rise in interest rates in March. It left interest rates on hold overnight and avoided giving a strong steer on when its next move might be-- understandably, given the confusing picture on US fiscal and trade policy. But really, that was as expected.
What's grating nerves more is the Trump administration's stance on the dollar itself. The message is puzzling, with officials flitting between trumpeting the strong dollar and calling for a weaker one. Dollar weakness and onshoring manufacturing jobs are also odd bedfellows. But the loudest rhetoric this week has been from calls for the buck to weaken. Meanwhile, sterling is holding on to mild gains after the UK Parliament last night passed a bill enabling the government to crack on with EU divorce talks. Some even think the time might soon be ripe to buy.