The dollar is still strong against the dollar and the euro this morning, benefitting from its status as a safe-haven currency. Worries over rising infections in Europe have caused investors to turn to the greenback.
Positive data from the US has also given the dollar a boost. Data showed that US home sales surged to their highest level in nearly 14 years in August, which is positive news for the economy. However, speeches from Federal Reserve officials yesterday also painted a picture of how the economy is faring.
Fed official, Charles Evans, said that the US could face a longer, slower recovery if Congress fail to pass a coronavirus relief package. Fed Chair, Jerome Powell, also acknowledged that spending put in place so far is working and that more is needed.
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