The dollar has strengthened against a basket of currencies this morning due to its safe-haven appeal. This has come about due to volatility in the equity markets.
Data released for the US yesterday showed that weekly initial jobless claims fell more than expected. Fourth-quarter GDP, meanwhile, slowed sharply but still grew 4% year-on-year.
The markets continue to wait for President Biden’s stimulus package. Approval of $1.9 trillion deal has been delayed due to concerns over the large price tag. The White House said yesterday that the package would not be split up, suggesting that Democrats could pass their package through a party-line majority vote.
Personal income spending figures for December will be released later today.
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