The dollar weakened slightly yesterday due to falling treasury yields and ahead of the Federal Reserve’s press conference following its monetary policy meeting.
The press conference will take place later today and the markets will be looking out for any comments or clarity over when the Fed will start to taper its monetary policy programme. It’s thought that tapering could begin as earlier as the fourth quarter of this year.
Durable goods order data came in lower than expected yesterday for the US, as factories continue to struggle with parts and labour shortages, as well as higher material costs.
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