020 7898 0500Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.
Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.
