The dollar’s year of gains against the euro were sharply reversed yesterday as it dropped from a 19-month high by nearly 1% from Sunday night, and by around 0.5% against the British pound.
Against the euro this could be seen as a small correction after two weeks of ‘risk-on’ gains from the growing Ukraine crisis.
Later today there are two important economic data releases: JOLTs Job Openings, which will give an indication whether US employers are finding the labour required to maximise economic performance, and ISM Manufacturing PMI for January, a measure of business optimism in the manufacturing industry.
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