Across the week, the dollar benefitted from “safe haven status” against the euro and sterling. However, that came to a halt overnight and the dollar starts the day nearly half a cent down against both the euro and sterling.
It’s all change at the top of US government tomorrow, with the return of Janet Yellen (former chair of the Federal Reserve) to frontline economic policymaking as Treasury Secretary. She will be making a speech at 3pm UK time, laying out the case for a $1.9trillion relief package, saying: “the smartest thing we can do is act big.”
Other than that, inauguration week will be fairly quiet on the data front, other than the PMI data from Markit on Friday.
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