The dollar strengthened against the pound at the end of last week, resuming its role as a safe-haven currency as US-China tensions increased. It is still strong against most currencies this morning. President Donald Trump banned US transactions with two popular Chinese apps: Tencent’s messenger app WeChat and ByteDance’s video-sharing app TikTok.
Non-Farm Payrolls were released on Friday, showing that the US economy added 1.76 million jobs in July, easing from a record 4.8 million in June. This can possibly be attributed to the resurgence of COVID-19 and the re-closure of businesses across the country.
This week, inflation rate data will be released for the US and a series of Federal Reserve officials will make speeches about how the economy is faring.
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