The dollar is still weak this morning but has found some support as a safe-haven currency due to uncertainty over the Georgia Senate elections.
The ‘run-offs’ will take place later today and will determine whether the Senate has a Republican or Democratic majority. This could influence economic policies that are introduced by Joe Biden when he takes up the Presidency on January 20. The polls suggest that the race is very tight.
Like the UK and the Eurozone, the US saw strong growth in its manufacturing sector in December. It was the strongest growth in factory activity since September of 2014 as the economy continues to recover from the coronavirus pandemic.
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