The dollar has strengthened markedly in recent weeks but that was halted yesterday against both euro and pound.
Federal Reserve Chair Jerome Powell said in notes prepared for a congressional meeting today that “We at the Fed will do everything we can to support the economy for as long as it takes to complete the recovery,” noting that “the pandemic continues to pose risks”.
Later today we will see house sale data. Last month there was an unexpected 2.7% drop in sales, largely due to a lack in property supply.
That will be the start of a hectic week for data, beginning with Markit PMI on Wednesday but the highlight being durable goods orders for May on Thursday at 1.10pm UK times and Personal income and Spending on Friday.
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