The dollar is stronger this morning as US Treasury yields have risen and there is growing uncertainty over how long the Federal Reserve will keep their interest rates low. Officials have previously stated that the rate will stay near zero until at least 2023, however, the Fed’s Vice Chair said on Friday the US economy was headed for an “impressive” year due to vaccine rollouts.
There is speculation that outgoing President Donald Trump could be impeached before his tenure ends on January 20. US House Speaker Nancy Pelosi is pressuring Vice-President Mike Pence to remove Donald Trump from office after scenes at the Capitol last week. If Pence does not comply, Democrats will vote to impeach Trump.
Non-Farm Payrolls data on Friday showed that the US economy cut 140K jobs in December, well below market expectations of a 71K rise. This week, inflation rate and retail sales figures will be released.
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