The dollar is stronger against a basket of currencies this morning, benefitting from its safe-haven status due to concerns about global economic growth and signs that the Federal Reserve will continue to tighten monetary policy.
Federal Reserve Chairman Jerome Powell suggested last week that the US interest rate could be hiked by 50 basis points at the central bank’s next meeting in May, speeding up monetary policy tightening.
Personal spending and consumer confidence figures will be released for the US this week, as well as GDP data for the first quarter of this year.
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