The dollar strengthened against a basket of currencies this morning, still benefitting from ‘hawkish’ remarks earlier this week made by Federal Reserve Chair, Jerome Powell.
Powell suggested that interest rates could be hiked by more than 25 basis points at upcoming monetary policy meetings if inflation continues to run high. This comes after the Federal Reserve voted to hike interest rates last week for the first time since 2018.
President Biden will travel to Brussels today to meet with European leaders. He is expected to discuss increasing the sanctions placed on Russia.
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