The dollar comes out on top this morning as it continues to find new strength against both currencies.
Today is a quiet day for data releases in the US however, ISM Non-Manufacturing PMI will be released tomorrow. In July, markets witnessed unexpected ISM PMI growth with a reading of 56.7, and this week markets will be expecting those numbers to fall to 55.
All ears on the US Federal Reserve this week, as market watchers anticipate another speech from the Fed’s Vice Chair Lael Brainard. At the moment, markets are still doubtful towards the Fed’s plans to increase interest rates until inflation is under control. Sonal Desai, the chief investment officer for fixed income at Franklin Templeton Cos, said “The Fed lacks credibility,” during Bloomberg Television’s “Wall Street Week” on Friday.
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