The US dollar has held its ground well over the festive period, reaching a four-month high against the Chinese yuan – a significant result for the US economy. It seems that most major trading houses are holding off their larger bets until the New Year, so the US dollar continues to trade within familiar ranges. Higher than expected Consumer Confidence and Trade Balance figures released yesterday helped the dollar gain a cent against both sterling and the euro.
This latest development spells good news for the US dollar, and we anticipate further positive data from the US. If you are looking to buy or sell US dollars, contact your trader now for the latest rates and to discuss your currency strategy.