The dollar is strengthening against a basket of currencies this morning due to the yield of 30-year treasuries increasing, which has been fuelled by market optimism over the US stimulus package. President Joe Biden’s $1.9 trillion stimulus bill may be approved as early as next week.
This comes ahead of a series of data for the US this afternoon, which will be followed by the Federal Reserve’s latest meeting minutes. The Fed is likely to reiterate its commitment to low rates and its bond-buying scheme.
Before the meeting minutes, retail sales data and industrial production figures will be released for the US.
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