The dollar is weak against the pound and the euro this morning after Jerome Powell’s speech last week, which revealed that the Federal Reserve will switch their stance to focus on higher employment and average inflation. As a safe-haven currency, this positive news has caused the dollar to weaken to 2-year lows against the euro.
Manufacturing PMI figures will be released for the US later today, as well as data on prices and employment in the sector.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
