The dollar is weaker this morning against a basket of currencies, as promise of the $1.9 trillion stimulus package is boosting market sentiment and hopes for economic recovery. This has reduced the appeal of safe-haven currencies, including the greenback.
Progress with the vaccine rollout in the US has also fuelled optimism, as well as encouraging economic data. Federal Reserve Chair, Jerome Powell, is due to speak later today and is expected to comment on the economic outlook for the US.
He also may comment on US inflation rate figures, which are due to be released this afternoon.
The US Center for Disease Control and Prevention said it had administered 43,206,190 doses of Covid-19 vaccines throughout the country yesterday, as the vaccination program is ramped up.
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