The dollar is still stronger against both currencies this morning despite yesterday’s fluctuations against the euro.
Markets can expect another day of speeches from Federal Reserve today while the US central bank works diligently to tackle rising inflation. The Fed’s policymakers anticipate more interest rate hikes in the coming weeks and months to help bring inflation closer to the 2% target.
At 1:30pm UK time, the US will release its initial jobless claims data. Earlier this month, the number of American’s filing new unemployment claims benefits suggested a tight labour market as it rose to 213,000. It is likely that more tightening is on the cards for the US labour market as new initial jobless claims are expected to increase to 216,000.
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