020 7898 0500Significant activity last week petered out on Monday as we saw a slower day for the US dollar. The US currency traded in a narrow range against its competitors due to the lack of data releases for the US.
Monday saw the release of the Labour Market Conditions Index, which was the only data worth noting – this was reported at 1.6, below market projection of 1.9, creating a dovish move for the dollar and pushing it to lose nearly a cent against sterling.
Today we expect little activity from the US economy to move the dollar; however, in the afternoon we have the 10-year note auction released, which is seen as a significant indicator of the growth level of the economy and could create some movement in the market late in the day.
