The dollar has weakened this morning after President Trump has given way to President elect Biden and accepted the start of a transition to the new regime. However, he has said that he will continue to contest his election defeat.
This transition means that Biden will now have access to top security briefings, office space and government officials and can prepare to take office on January 20. He is expected to start announcing who will take the top positions in his cabinet.
PMI data was strong for the US, with manufacturing, services and composite staying within expansion territory and showing that these sectors continued to grow in November.
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