020 7898 0500It was a positive day for the US dollar as it strengthened against both sterling and the euro. Data released throughout the day could have created possible weakness for the US dollar, with both Retail Sales and Producer Inflation data showing contraction, but major movement was dictated again by sterling.
Today, we can look forward to the release of US Consumer Inflation data, which is expected to show another fall, a figure that has really struggled in the last few months. Investors will be keeping a closer eye on the US Federal Reserve Interest Rate decision and the press conference that follows for any indication of an interest rate hike. It is expected that the Federal Reserve will leave rates as they are, but it will be the rhetoric used during the statement that is expected to give an indication of the next movement, the real state of the economy, or, indeed, what is holding them back from increasing rates further.
Please call your trader for the latest US dollar update.
