The dollar has risen to a four-month high against the euro this morning as it continues to benefit from its safe-haven status.
It was also given support after testimonies from Federal Reserve Chair, Jerome Powell and Treasury Secretary Janet Yellen this week. They were upbeat about the economy, with Powell saying that 2021 will be a “very, very strong year in the most likely case.” However, they reiterated that risks remain.
Jobless claims and final GDP figures will be released for the US later today. Jobless claims are expected to show a decrease in the week ending March 20th.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
