Currency Note US Dollar

US dollar falls to two and half year lows against sterling

By Ricky Bean January 23rd, 2014

The US dollar took a back seat to UK developments yesterday, resulting in a mixed but largely uneventful day for the US currency. It declined against sterling, nearing previous two and a half year lows. There was little to strengthen US markets on their own ground, with no key economic data available stateside.

Some economic points of interest emerge today for the US dollar, firstly with unemployment claims. Investors will look to these figures for encouragement ahead of next week’s decision over any further tapering of the US Federal Reserve’s quantitative easing programme, given the importance of the labour market to the decision. Existing home sales figures are also due, and further positive results could add more weight to the argument to taper.

Interested in buying or selling US dollar? Call your trader now for the latest rates, as it has the chance to make its own mark on the week.