The dollar continued to suffer yesterday after Jerome Powell announced a change of gear for the Federal Reserve last week. The Fed announced that it would focus more on employment and tolerate periods of higher inflation, which means that interest rates will probably stay low for some time.
It’s a busy day of data for the US today, with Employment Change and Factory Order figures coming in later. Two Federal Reserve officials will also speak today and perhaps shed some more light on the Fed’s new approach.
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