020 7898 0500It was a quiet end to the week for the dollar, which weakened against a basket of major currencies on Friday as investors remain doubtful, seeking any form of indication towards future rate hikes and this week’s essential inflation data.
Looking to the week ahead, there’s a mild consumer theme. Personal consumption is forecast to rise for the month of May, leading toward a healthy recovery following a poor Q1. This, coupled with strong levels of consumer confidence which we anticipate for the month of June, could support the dollar well.
Finally, attention will be drawn toward US inflation figures, which is forecast to slow further to 1.4%. Should this occur, we might see another interest rate hike this year.
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