US dollar ends week on a low after a good run

Sterling has fallen steadily against the US dollar this week, as the American currency is seen as a safe pair of hands in this period of heightened market movement. A better-than-expected consumer confidence reading from across the pond on Tuesday, along with strong manufacturing growth throughout June meant that sterling faltered throughout the week – although a brief rally was seen on Thursday as US non-farm payrolls missed their expected level; these gains were soon reversed as the US dollar found support ahead of today’s Independence day bank holiday.