The dollar weakened against the pound and euro yesterday and is still weak this morning, as Republicans and Democrats are struggling to agree on a stimulus bill to help the US economy. Treasury Secretary, Steven Mnuchin said on Wednesday that the White House and top Democrats in Congress may not be able to reach a deal on coronavirus aid.
Data from the US came in better-than-expected yesterday, which lifted the dollar briefly. The consumer price index rose 0.6% last month after rebounding 0.6% in June. The US core consumer price inflation rate rose to 1.6% year-on-year in July from 1.2% in June, well above market expectations of 1.1%.
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