The dollar continued to weaken to start the week, ahead of Tuesday’s FOMC minutes report.
Tomorrow’s report will give a detailed breakdown on the Federal Open Market Committee´s reasoning behind its latest decision to keep rates unchanged.
Many are also expecting an economic outlook from the Fed, as to when it could next lift rates in this current cycle.
Overall, inflation continues to slow in the United States, however the resilience of consumers has meant that prices remain above the Fed’s target.
GBPUSD rose to a peak at 1.2517 on the news.
Microsoft stock surges to record high, following OpenAI reshuffle
Shares in Microsoft rallied to an all-time high on Monday, after the company hired Sam Altman, after he was fired by OpenAI.
Over the weekend, the OpenAI board let go of Atlman as a result of him “ not consistently (being) candid in his communications with the board.”
Microsoft, who owns 49% of OpenAI, was unaware of the board’s decision to fire Altman, who founded the AI giant.
CEO Sataya Nedlla, on Sunday posted that, “We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate.”
Altman, along with OpenAI co-founder Greg Brockman will now lead Microsoft’s AI team.
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