West Texas Intermediate (WTI) oil price edges lower after registering over 1% losses in the previous day, trading around $89.40 per barrel during the Asian hours on Tuesday.
Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US Dollar (USD) remains firm as United States (US) jobs data, higher Federal Reserve (Fed) rate expectations and rising Oil prices pressure stocks and bonds.
Brown Brothers Harriman’s Elias Haddad (BBH) highlights downside risks for the Pound as UK GDP is expected to contract in Q2 and markets price further Bank of England (BoE) hikes due to second-round inflation effects.