The dollar is weaker this morning after the conclusion of the Federal Reserve’s monetary policy meeting yesterday.
The Fed left all monetary policy unchanged. Once again, Fed Chair Jerome Powell said that it is too soon to start tapering monetary policy, despite signs that the economy is recovering. Taking ‘dovish’ stance overall, Powell explained that “the economy is a long way from our goals and is likely to take some time for substantial further progress to be achieved.”
In his address to Congress yesterday, President Biden laid out an investment plan for jobs, education and social care.
The American Jobs Plan and the American Families Plan will be funded by tax increases on corporations and wealthy individuals. Biden said, “it’s time for corporate America and the wealthiest 1%…to pay their fair share.”
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