The dollar has weakened against both EUR and GBP so far this week and could continue to do so as economic data comes in.
Later today we’ll be hearing US jobless claims for the past week (as well as a rolling average) and, on Friday, producer prices. These are hugely volatile times for producer prices – for example there was a 40% rise in meat prices last month.
Of more interest will be jobless claims. New business casualties of the pandemic include the men’s outfitters Brooks Brothers who filed for bankruptcy yesterday, their smart suits being less a requirement in Zoom meetings.
The US economy continues to reel from renewed lockdowns and the failure of the US to “squash the sombrero” of new cases. Speaking of which, the Mexican president Lopez Obrador was at the White House yesterday, making friends with President Trump ahead of the US election campaign.
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