The dollar finally had a positive day, strengthening by well over 1% against sterling and a not dissimilar amount against the euro. However, that has been chipped away at overnight and this morning.
One of several members of the Fed’s rate-setting committee speaking yesterday, Raphael Bostic said that they were still in the early days of rate rises: “we are still decidedly in the inflationary woods, not out of them”, and he expected US interest rates to hit 4.5% by the end of the year. More FOMC members will be speaking this afternoon.
The big data event of the week is tomorrow, with unemployment and non-farm payrolls at 1.30pm UK time.
In California, a judge is going to rule on whether a new trial is required for Elizabeth Holmes, boss of the never-working blood-testing device Theranos. Holmes was convicted of defrauding Silicon Valley investors.
USD/EUR past year
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