The global trade war was in full swing this week as the US revealed further tariffs on $16 billion worth of Chinese goods. The Chinese Ministry of Commerce retaliated with the announcement of a 25% tariff on $1 billion worth of US goods which included auto and crude oil. 

Mostly proceeding through the week undeterred, the US dollar has continued to enjoy the benefits of raising interest rates whilst the interest rate outlook for the rest of the world looks a lot less bright. The dollar was also bolstered by the expectation of superior producer price inflation and consumer price inflation figures late in the week.