020 7898 0500Yesterday the US dollar gained against sterling and the commodity backed currencies, moved sideways against the euro and continued to lose ground against the Japanese yen. There seems to be increasing negative investor sentiment surrounding the possibility of a further US interest rate hike in the short-term which should be undermine the US dollar but bad news from elsewhere seemed to outweigh this and “support” the US dollar.
Today sees a far busier day for Tier 1 data releases in the US, with ADP Non-Farm Employment Change (an excellent pre-cursor for Friday’s big number), ISM Non-Manufacturing Purchasing Managers’ Index (PMI), and Crude Oil Inventories released. Positive news here has the potential to help strengthen the US dollar.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
