Currency Note US Dollar

Lack of data leaves the US dollar to drift

By Smart Currency November 11th, 2014

It was a fairly quiet day for the US Dollar as it strengthened slightly against sterling throughout the day. Weaker jobs data on Friday, limited data to be released this week plus a US holiday today leaves the dollar vulnerable to events elsewhere.

In the long term, however, the US dollar should continue to benefit from a positive outlook coupled with impressive US economic data makes it more likely for interest rates to go up in 2015. The market will look to Friday for Octobers US retail sales data, which is set to rise by 0.2%, in comparison to a negative 0.3% in September.