US dollar continues to benefit from sterling weakness despite quite data week

It has been another quite week for the US dollar in terms of data, with the movement for the American currency in the main dictated by sterling’s weakness. On Tuesday we saw the release of Job Opening and Labor Turnover Survey (JOLTS) figures, which showed a stable figure – as did the release of weekly unemployment change data on Thursday. Import prices were also released; these grew more than expected, especially given this is a figure that has been suffering for the last 8 months.

We expect a busier day today, with Retails Sales, Producer Inflation and Industrial production all due to be released – albeit at levels lower than the previous month.