US dollar affected by sterling movements

US dollar movements continued to be dictated by sterling movement on Monday, thanks to the announcement of the UK’s EU Referendum over the weekend. Flash manufacturing Purchase Managers Indices (PMI) figures were disappointing with growth slower than anticipated – although this did not affect the American currency too adversely.

Today we can look forward to Consumer Confidence which is expected to drop slightly on the previous figure, but should still show stability. The main focus for this week will be on Friday’s Preliminary Gross Domestic Product (GDP) figures, which are expected to show further growth in the US economy.