The dollar is marginally lower this morning, after its strength at the beginning of this week due to rising Treasury yields and the promise of more economic stimulus from the incoming Biden administration. It’s been reported that Biden will look at plans for more stimulus later today.
Federal Reserve Chair, Jerome Powell, will speak later today, which could indicate the Fed’s plan for its bond-buying programme. There has been speculation that the Fed will reduce its monetary support sooner than expected due to hopes of economic recovery.
Today, jobless claims figures will be released ahead of the speech from Jerome Powell.
Yesterday, outgoing President Donald Trump was impeached for the second time. A trial will be held at the Senate to determine whether he will be ousted, however, it’s unclear whether this will happen before is tenure ends.
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