Currency Note US Dollar

US dollar has a difficult week

By Smart Currency January 10th, 2014

The US dollar has had a mixed week. Janet Yellen was confirmed on Monday as the next chairperson of the Federal Reserve. Data releases so far this week have been mixed but on Wednesday we had two positive releases with the Trade balance showing a reduction in the deficit and better than expected employment figures. The encouraging labour market data gave further hope that the Federal Reserve will taper again come their next meeting, as the minutes from last months showed a majority supporting the first round of tapering as they saw reducing economic benefits to the monthly bond buying. Today continues the important releases from the US with the ever important non-farm employment change and the overall unemployment rate liable to impact on the markets. Get in touch with your trader now for the latest US dollar rates, with labour data key at the end of a busy week.