The dollar has strengthened further against many major currencies following increased expectations of a US interest rate hike in March.
The greenback has also benefitted from data showing the US economy grew at the fastest rate since 1984 in 2021. GDP grew by 6.9% in Q4 of 2021, far above market expectations of 5.5%. Over the whole year, the economy expanded by 5.7%.
Initial jobless claims for last week fell to 260k, down from 290k and meeting market expectations. Markets now turn their focus to personal spending figures and PCE inflation.
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