The dollar has continued to weaken this morning, as it has currently lost its safe-haven appeal. Overall sentiment is positive due to vaccine news and hopes of a stimulus package to help the US economy.
After President Trump made way for the Biden administration this week, there have been reports that former Federal Reserve head Janet Yellen is set to become Treasury Secretary. She is an advocate of big fiscal stimulus, which has ignited hopes that a stimulus package will be put forward by the new administration.
Durable goods orders and personal spending figures will be released for the US today, both expected to show a drop in October. The Federal Reserve will also publish the minutes from their latest monetary policy meeting this evening, which should give an indication as to whether the Fed are considering more stimulus measures.
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