The US dollar had a largely positive start to the week, despite the fact that there was no major data from the country to aid the currency’s performance. The dollar rose to its highest level since November 2013 against sterling, as the UK currency weakened across the board; the dollar also benefitted from this with gains against most of its other major partners.
Today holds just the one mildly influential piece of data that could affect the strength of the dollar, in the shape of the job openings figure. Following last week’s disappointing labour market results, investors will be looking for some encouragement from this crucial data set. Its link to the possibility of interest rate rises is strong, and the latter continues to be at the forefront of investors’ minds. Aside from this, it is likely to be factors elsewhere that have an influence over the market, so investors will be looking at the wider picture.