The announcement following yesterday’s Federal Reserve meeting triggered US dollar weakness as it confirmed what most analysts had already forecast which was they were more likely to increase interest rates twice this year rather the four they had forecast in December. Prior to that Wednesday had been a positive day for the US dollar, with Consumer Inflation figures released at the level expected. With the core figure released showing further growth, this confirmed that falling oil price have had a large effect on overall inflation.
Today sees the release of the weekly labour data, which is expected to post another stable figure, as well as the Job Openings and Labour Turnover Survey figures which are expected to show a slight drop on last month – but still show positivity in the employment sector.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.