The American job market appears to be recovering as initial jobless claims fell to 547,000 – their lowest level since the start of the pandemic. This gave the dollar an initial boost against the euro.
Fittingly on Earth Day yesterday, President Biden revealed a new climate change target for the US. In a virtual summit, Biden pledged to reduce the US’s carbon emissions 50-52% below 2005 levels by 2030. He called this decade “decisive” and one that “will avoid the worst consequences of the climate crisis”.
Next week, the dollar’s fate is likely to be affected by the Federal Reserve’s monetary policy meeting.
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