The dollar has strengthened against the euro this week, gaining roughly half a cent yesterday as Europe’s vaccine woes continue.
It was a broadly positive picture for US data yesterday too, with better than expected results for manufacturing PMI, prices, employment and construction spending. However, with a snow storm delaying vaccinations and death rates remaining at around their highest rates ever, there are fears that the economy will not be rebounding without continued stimulus from the Federal Reserve.
On that note, President Biden will be trying to get his $1.9trillion stimulus package passed, against Republican plans for a $600billion package. It will also be a test of whether he can create a more cooperative and bipartisan atmosphere between parties.
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