Currency Note US Dollar

US Dollar continues in the ascendancy

By Smart Currency August 8th, 2014

The US dollar remained firm and close to 11 month highs against its major peers on Thursday. The most recent jobless claims report added to positive evidence that the US economy is continuing to strengthen. The figure stood at 289,000, while the reliable 4-week average was at its lowest since 2006, when it stood at 293,500. This is excellent news for the US economy, and makes it more likely that we will see an improved monthly jobs report next month. The dollar still remains strong against other currencies.

Today there is preliminary non-farm productivity data due, but this figure will often change during the month, so it is not an effective gauge of US economic health on the whole. Data releases from elsewhere may well have a bigger effect on dollar performance.