020 7898 0500Sterling has been climbing against the dollar recently, but that was owing to weakness in the greenback rather than sterling strength. So it is perhaps fitting that the dollar ended last week by making some healthy gains against the pound and euro because of events in the UK and Europe. Concerns that interest rates will be kept on hold have rattled the markets and the dollar has retraced most of its recent losses against the pound.
Today we will see existing home sales for March, as well as the composite, manufacturing and services PMI for April, while Tuesday sees the release of new home sales and consumer confidence. We will also see the GDP growth rate for the first quarter of 2018 on Friday. That should provide a solid indication of how the US economy has performed since the turn of the year.
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