The rise of the US dollar has led to a decline in major currency trading after President Joe Biden launched a $ 1.9 trillion stimulus package plan during the Asian session.
The dollar index is now heading for its biggest weekly rise since November 2020, after recovering from a three-year low.
Against most major currencies, the greenback dollar traded stable around the 90.35 price level.
The currency has previously been affected by a statement by Federal Reserve (Fed) Chairman Jerome Powell who rejected the idea of reducing its asset purchase program and it is still too early to talk about it.
The market focus is now on the release of US retail sales data tonight which is expected to increase slightly from previous readings, but is still at low levels.
Meanwhile, the strengthening of the US dollar has pushed the pound sterling trade to decline from its latest 2 and a half year high reached in the previous session, as well as being affected by UK economic data.
Today's European session data show that the UK economy contracted in November as the government began to impose stricter sanctions on England, causing the country to now be threatened with a double recession.
