The dollar has found some strength this morning against both the pound and the euro. It is benefitting from the pound’s weakness and has possibly also strengthened due to the IBD/TIPP Economic Optimism Index, which rose to 56.6 in July 2019 from 53.2 in June. This index looks at how consumers, workers and investors feel about the economy. Cleveland Federal Reserve Bank President, Loretta Mester, also said that she would prefer not to cut rates proactively, which has also helped the greenback.
The markets are looking ahead to Balance of Trade figures today and Non-Farm Payrolls on Friday.
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