The dollar is weaker this morning following continued news that the Omicron variant may not be as severe as initially thought.
Yesterday, the US also saw record inflation figures. US PCE inflation, which measures price changes in consumer goods and services, rose by 5.7% year-on-year in November, the most in 39 years. Markets will likely take this surge as reassurance that the Fed will stick to its plan of speeding up the winding down its stimulus programme.
Durable goods orders and personal spending for November were also released yesterday. Figures show a 2.5% rise in durable goods orders which beat expectations, however, personal spending trailed behind, rising by just 0.4%.
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