The dollar has weakened to a new four-week low against a basket of currencies this morning, due to falling treasury yields. This has come about due to the Federal Reserve’s ‘dovish’ message, which has reiterated that interest rates will stay low for some time.
Fed Chair Jerome Powell said yesterday that in time, the central bank will reduce its monthly bond purchases before it commits to an interest rate increase.
US retail sales data is due to be released this afternoon. After declining by 3% in February, an uptick of 5.9% is expected for March as the economy begins to recover.
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