The dollar was weaker yesterday as the global markets opened higher, indicating market optimism despite a growing number of coronavirus cases. It is still strong against the pound, however.
Today, we’ll hear a series of speeches from Federal Reserve officials and Fed Chair, Jerome Powell, will make his testimony ahead of Non-Farm Payrolls on Thursday. He is expected to comment on rising infection rates in the US and the possible impact on the US economy.
Yesterday, Powell said the outlook for the world’s biggest economy is “extraordinarily uncertain.” He added that, “we have entered an important new phase and have done so sooner than expected. While this bounce-back in economic activity is welcome, it also presents new challenges —notably, the need to keep the virus in check.”
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