It was a poor performance from the US dollar on Tuesday, as it continued to weaken against sterling and slightly against the euro. The data releases didn’t help in the day, with durable goods data showing growth but far less than what was expected. We saw a similar story with consumer confidence figures, which fell on the previous month’s.
This week’s spotlight will be on today, with the all-important interest rate decision from the Federal Reserve and the statement that follows. It is widely expected that the US Federal Reserve will keep rates on hold, but it is the statement that is released that will give a clearer picture on how members view another small interest rate rise in June.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.