The dollar is strong against the pound and a basket of other currencies, benefitting from its status as a safe haven currency. This is due to concerns over global economic recovery as COVID-19 cases rise again.
San Francisco Federal Reserve President, Mary Daly, said in a recent interview, “One of the biggest risks to our global growth going forward is that we prematurely declare victory on Covid.”
The greenback is still also benefitting from the release of FOMC meeting minutes on Wednesday, which confirmed that the Federal Reserve could hike interest rates earlier than initially expected.
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