New measures announced by the Federal Reserve to mitigate the impact of coronavirus have eased dollar demand, causing the greenback to weaken slightly against a range of currencies, including the pound and euro.
After days of negotiations, US Senate leaders have reached a deal with the White House on a $2trn stimulus package aimed at rescuing the economy from the effects of coronavirus.
US PMI data was released yesterday, showing a fall for both services and manufacturing. Like the UK, services were hit hard, with the figure dropping from 49.4 to 39.1.
Today, Durable Goods Orders for February are expected to show a decrease.
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