The dollar recovered against a basket of currencies yesterday on hopes that the White House will announce a spending package to mitigate the risks of coronavirus. Donald Trump said that they are prepared to take “major” steps to boost the US economy. He held a news conference on Tuesday evening, however the details surrounding any possible stimulus remain unclear.
The dollar’s recovery coincided with a rebound in the US stock market and treasury yields.
Today is also a busy day of data for the US, with Inflation Rate figures released this afternoon and the Monthly Budget Statement this evening.
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