Currency Note US Dollar

US dollar buoyant despite no resolution to talks

By Smart Currency October 10th, 2013

The US dollar fared well yesterday, despite no further developments on resolving the government shutdown, with the selection of the new chairman of the Federal Reserve. With a White House official saying President Obama will choose Janet Yellen as the successor, investors took the view that the central bank will keep its policies to encourage the growth of the economy. On the data front, crude oil inventories and 10 year bond auctions were both in line with expectations. Today, the major US data should come in the shape of the unemployment claims figures, significant due to their link with the tapering program, although possible somewhat less so currently as the US government shutdown will seemingly delaying their production. Get in touch with your trader now, as a week with multiple dollar influences rolls on.