The dollar strode ahead of most major currencies yesterday, strengthening to a three-week high against the euro and a month-long high against the pound.
This was despite US stock markets slipping by around 2%, its biggest fall for months, due to troubles in the Chinese property market, rising Covid cases and yet a potential start to tapering of financial stimulus from the Federal Reserve tomorrow.
On the plus side, travel across the Atlantic is set to restart within a month or two with the ending of the US travel ban in time for Thanksgiving.
Later today (and tomorrow) we’ll see housing data, but the big event of the week is of course the interest rate decision tomorrow, including the FOMC’s economic projections.
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