The dollar strengthened against the euro and pound yesterday, and that has continued this morning, as concerns over resurgent cases of the Covid-19 Delta variant encouraged investor to seek safety in the dollar.
The dollar is also being supported by the supposition that the US Federal Reserve will be tapering post-pandemic support for the US economy more rapidly than the ECB will be doing so for the Eurozone.
There were no significant data releases yesterday and a quiet day today includes only house prices and oil stocks. US house prices have been leaping ahead at a similar rate to the UK’s – around 13.5% per annum.
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