Currency Note US Dollar

US dollar continues to lose ground

By Ricky Bean September 12th, 2013

Once again, the US dollar suffered losses yesterday due to the indirect external influence of the situation in Syria. With no economic data of note out from stateside, it was news that any military action may have at least been delayed by President Obama that caused dollar weakness as investors needs for the so-called safe haven assets such as the US dollar to diminished. This suspected de-escalation of the Syria situation is having the expected effect on the market, and as such any further developments will be reflected in the strengths of the involved currencies. Today, unemployment claims from the US is the main event likely to affect the US dollar, alongside the any developments over in Syria. Any positive economic data – especially from the labour market – is likely to see the resurgence of speculation surrounding the Federal Reserve tapering its quantitative easing program – namely, when it will commence and how aggressive the tapering will be. Get in touch with your trader now for the latest price on the US dollar, amid possible volatile times for the currency.