Currency Note US Dollar

No change in US politicians standoff

By Smart Currency October 9th, 2013

The US dollar was little moved yesterday, with markets remaining tentative as the government shutdown continued to cast a shadow over the currency. In general, investors still believe that an agreement will be reached to increase the nation’s debt ceiling, and consequently avoid the government defaulting on its debt for the first time in history. However, to-date, there have been no clear advances, and as such investors were ultimately left to continue guessing. There was also no data released from the country, and as such no chance for the dollar to ride on the back of positive results and make any major gains. Later this evening could prove very interesting for investors, as they look forward to the release of the minutes from the last Federal Open Market Reserve meeting. Before that, an FOMC member is due to speak, while crude oil inventories and the 10 year bond auction could add or subtract further weight from any signs of economic recovery. Get in touch with your trader now for an up to the minute price on the US dollar, with the possibility today of increased volatility.