The dollar is strong this morning after a version of Biden’s $1.9 trillion stimulus bill was passed through the Senate via party lines on Saturday. This came after a long 25-hour debate. The House is due to vote on this package on Tuesday, in the hope that financial aid can begin to be distributed as early as this month.
It is also still strong on the back of a positive Non-Farm Payrolls report on Friday, which showed that the US economy added 379K jobs in February, compared to market expectations of 182K. This boost was due to easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government.
This week, US inflation rate figures will be released for February, as well as jobless claims data. Next week, the Federal Reserve will hold their latest policy meeting.
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