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LGT Navigator: Geopolitics cause more uncertainties

August 7, 2018

Against the background of geopolitical uncertainties, investors remained cautious at the beginning of the week. In the trade dispute between the US and China, Beijing reacted to the recent threats from Washington with countermeasures. The conflict between the USA and Iran, after the US sanctions suspended so far have come back into force, is also causing uncertainty. The crisis in Turkey is also worsening.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

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