The dollar is weaker this morning due to increased hopes for the introduction of more stimulus measures in the US. Despite expected opposition from Senate Republicans, there are hopes that the $1.9 trillion package will pass through Congress.
The Federal Reserve will hold its latest monetary policy meeting this week, where it is expected to keep interest rates on hold and continue its commitment to accommodative monetary policy. The FOMC statement will be released on Wednesday followed by a press conference from Fed Chair Jerome Powell.
Durable goods orders and GDP data will be released for the US this week. Quarterly GDP growth is expected to come in at 4%, significantly less than the 33.4% rise last quarter.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
