The pound reached its highest level against the dollar in nearly four years after reports indicated that President Donald Trump might accelerate the appointment of the new head of the Federal Reserve.

• Pound rose above $1.37, its strongest since October 2021.
• Jerome Powell, the current chair of the Federal Reserve, faces potential replacement amidst concerns over his independence.
• Trump criticized Powell as “terrible” and mentioned he is considering “three or four” candidates for the role, raising fears about the influence on monetary policy.

The inaugural Africa-China Forum on Agri-Tech and Industrial Cooperation was held on June 26 in Nairobi, bringing together key players to discuss enhancing agricultural and industrial collaboration between China and Africa.

• International Livestock Research Institute and Alliance for a Green Revolution in Africa (AGRA) co-hosted the event.
• Ibrahim Mayaki, African Union special envoy for food systems, emphasized learning from China’s agricultural transformation.
• Joint research initiatives in technology and agriculture are aimed at tackling hunger and malnutrition across the continent.

During a summit in The Hague on June 26, NATO leaders agreed to increase defence spending to **5%** of their countries’ GDP by **2035**, a decision touted as a “big win” by U.S. President Donald Trump.

• 5% defence spending commitment by **2035**.
• NATO and its leaders, including Mark Rutte, emphasized unity against security threats.
• The summit saw *no condemnation* of Russia's invasion of Ukraine, unlike the previous year.