020 7898 0500The US dollar fared poorly this week, suffering steady losses against a number of its major peers, notably falling to a seven-week low against the euro and the Japanese yen. All this came despite non-manufacturing PMI and the trade balance coming in above expectations on Monday and Tuesday. These positive economic indicators were not enough to convince investors that tapering would begin in the near future. After the Federal Open Market Committee’s previously cautious approach to tapering, markets still did not react positively to further statements to the effect that it would not be ruled out ahead of September’s meeting. This on-going speculation is still at the forefront of issues surrounding the currency, and will continue to have an impact on its performance as the uncertainty reigns. With no further data being released today, the trend looks to have little cause to reverse, leaving the dollar to close out a disappointing week with little respite. Get in touch with your trader now for the latest price on the US dollar and to see if lost ground can be recouped.
