Tuesday 23rd December proved a very busy day for the US dollar. Important data releases saw the US dollar reach its highest against sterling for the first time since late August 2013 – a year and a half high!
Despite new home sales data coming out at 23K less than expected, final GDP figures showed an overall improvement of 7% which acted as the main jumpstart for the currency. Market data released on Christmas Eve, 24th December, will focus on unemployment claims, which will be the last major US data release before the Christmas break. With the forecasted figure of 291K, the US dollar will likely strengthen even further if the data comes out less than expected.