The dollar is slightly stronger this morning as rising COVID-19 cases have prompted the markets to opt for safe-haven currencies. There are also concerns about possible violence at President-elect Joe Biden’s inauguration on Wednesday following the events at the Capitol earlier this month.
Data released on Friday revealed that US retail trade fell 0.7% from a month earlier in December 2020, compared with market expectations of a flat reading. That was also the third consecutive month of decline, amid record COVID-19 infections, high unemployment levels and lack of government’s support.
After Biden proposed a $1.9million stimulus package to support the US economy at the end of last week, there has been some opposition from Republicans, which could mean that it struggles to pass through Congress.
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