Trump-Ukraine transcript released

A rough transcript of the call between Trump and his Ukrainian equivalent Zelenskiy has been released in recent minutes as the US president seeks to defend himself in the face of impeachment charges. Key points from the note were:

• Trump asked Zelenskiy to examine whether Democrats' Biden stopped the investigation of a company in which is son was involved

• Trump: “If you can look in it… it sounds horrible to me”

• Trump also asked the Ukranian president to investigate whether his country could locate a hacked Democratic National Committee computer server that became an issue in Trump’s 2016 campaign 

While this news has made headlines there’s nothing too groundbreaking here and its also worth keeping in mind that this is Trump’s own words. In terms of market reaction initially US stocks dropped to their lowest level in several weeks with the US500 dipping to 2954 in response while the USDJPY pulled back. However, this immediate reaction has since faded somewhat and it will be interesting to see how the market takes this going forward. 

Finally, Trump is scheduled to hold a press conference this evening at 9PM BST