The dollar is weak against both the euro and the pound this morning as the Federal Reserve’s stance on inflation continues to weaken on the greenback.
The Fed have repeatedly said that monetary stimulus will stay in place for a while and they expect any rise in inflation to be short lived. Fed Vice Chair Randal Quarles and Governor Lael Brainard will speak at separate events later today.
However, the markets will be looking to Friday for the release of Non-Farm Payrolls data and any comments from Fed officials surrounding this. The figures are expected to show the at the US economy added 650,000 jobs in May, after just 266,000 in April.
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