The dollar is weaker against a basket of currencies due to a more positive economic outlook in both the US and Europe. This comes ahead of the Federal Reserve’s monetary policy meeting, which is due to conclude on Wednesday.
Federal Reserve Chair, Jerome Powell, is likely to be asked if the improving economic outlook will prompt the withdrawal of monetary support. However, he has repeatedly said that a more ‘complete’ recovery needs to be seen before changes are made, so it is thought that he will repeat this message.
Durable goods orders will be released for the US today, with GDP and personal spending figures later this week.
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