The dollar has held onto its strength following Federal Reserve Chair Jerome Powell’s second testimony in front of congress yesterday.
He expressed that in hindsight, the Bank should have moved earlier to recognise inflation as longer-lasting.
Initial jobless claims figures were also released yesterday and showed that the number of Americans filing for unemployment benefits fell last week. This was the lowest number since the start of the year as the demand for labour increases following the ending of Covid restrictions.
Later today, non-farm payrolls and the unemployment rate for February will be released, giving an indication of how the US economy is faring.
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