The dollar is weaker this morning as recent economic data shows that the pandemic is affecting consumer behaviour.
U.S. retail sales rose by just 0.3% in October, at the slowest pace in six months, while the previous month saw a downwardly revised 1.6% gain. This suggests consumers who had previously driven the economic rebound are becoming more cautious due to rising cases.
Talks to agree on a stimulus package to help the US economy are likely to start again soon, after they were paused before the election. Senate Minority Leader Chuck Schumer and House Speaker Nancy Pelosi have asked Senate Majority Leader Mitch McConnell to join them at the negotiating table once again. Biden has urged Congress to push a programme through before he takes office in January.
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