The dollar is stronger against a basket of currencies this morning, helped by the Federal Reserve’s rhetoric at its meeting last week, as well as rising Omicron cases across Europe.
Last week, the Federal Reserve confirmed that it would accelerate the tapering of its bond-buying programme with a view to raise interest rates next year. This has boosted the greenback, as well as ‘safe-haven’ demand due to rising COVID-19 cases and the impact on economies across Europe.
This week, there will be a series of data releases for the US, including personal spending and durable goods orders.
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