Currency Note US Dollar

Data benefits US dollar

By Ricky Bean October 30th, 2013

The US dollar had a quietly convincing day yesterday, enjoying a third straight gain against sterling, and making ground on the euro as well. This came about as the Federal Open Market Committee begun their two day meeting, with its conclusion and results due out later today. After the recent government shut down and its surrounding issues, it is highly unlikely that any tapering by them will start until the new year, and this is expected to be confirmed by the members following this meeting. However, the dollar gained ground, as many may have been lowering their risk positions before this. Yesterday was also busy for the dollar in terms of data, where we saw core retail sales and producer price index figures just slightly behind expectations. Before this evenings meeting results, the non-farm employment change figure is liable to cause some volatility given its significance as a strong economic indicator. Call your trader now for the latest US dollar rates, on an important day in its week.