The dollar is stronger against the pound but weaker against the euro this morning following mediocre US data.
GDP growth in Q1 was as predicted, at 6.4%, while initial jobless claims and durable goods orders failed to meet expectations.
Later today, we will see month-on-month personal income and personal spending as well as PCE inflation. Markets will be waiting to see if this data supports the Fed’s hawkish stance.
President Biden has also announced a record $953bn infrastructure plan which will fund roads, bridges and public transport in the US.
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