The dollar is still struggling against the euro and the pound as positive risk sentiment continues to weigh on the American currency.
President Joe Biden has warned Americans that the battle against rising inflation is “going to be a haul” and that rising prices are unlikely to come down any time soon. Nonetheless, he added that he does not believe a recession is “inevitable”.
Key data releases today include PMI figures and new home sales, both of which are expected to fall. Fed Chair Jerome Powell is also due to speak this evening.
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