The dollar is slightly weaker against a basket of currencies this morning after Federal Reserve Chairman, Jerome Powell, said on Friday that it’s not time to be raising interest rates.
It’s still thought that the Fed will raise rates next year, however, rate hikes from other central banks, such as the Bank of England, are expected to occur sooner.
GDP and personal spending figures will be released for the US this week. GDP is estimated to come in at 2.8% for the third quarter of this year, lower that 6.7% in the second quarter.
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