The dollar rebounded slightly against the pound and euro yesterday afternoon ahead of the release of the FOMC minutes. It then strengthened further when the minutes were released, due to its safe haven status.
The minutes suggested that the Federal Reserve will keep their monetary policy stance the same for now. However, they also said that the coronavirus crisis would continue to weigh on the US economy and asked for more help from Congress, referencing the fiscal stimulus package that is yet to be implemented.
Yesterday, Joe Biden was officially named as the Presidential candidate for the Democratic Party and is due to challenge President Trump in the upcoming election. So far, Biden is ahead in the opinion polls.
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