The dollar ended the week up against the pound, after Markit data releases showed manufacturing and services activity picked up pace last month, despite the US-China trade war. It was also up against the euro, particularly as the latter’s business releases showed less-than-positive data.
Hopes of progress in trade talks were kept alive over the weekend, as Chinese plans for improving protection of intellectual property rights were announced. This is seen as a move to address a sticking point between the two sides.
We will see a number of economic releases later this week, including personal income and spending, durable goods, GDP price index and jobless claims. Fed Chair Powell is also set to speak early tomorrow.
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