Currency Note US Dollar

US dollar has a good day

By Smart Currency September 25th, 2013

The US dollar performed well yesterday, despite no significant or unexpected data releases from stateside. With consumer confidence coming out at the expected level, it was only speculation on the ever present tapering situation that buoyed the currency yesterday, as investors followed the mind-set that the Federal Reserve would start reducing the bond buying process sooner rather than later. Following comments from more members of the Federal Open Market Committee (FOMC), speculation rose that tapering could commence next month countering the US dollar sell off we saw last week when the FOMC decided against implementation. Today could give further support to this idea, with more physical data due. Both the monthly core durable goods orders and the new home sales data are due to be released, and any positive economic data is sure to give investors more confidence that tapering is viable. Call your trader now for the up to the minute price on the US dollar, with tapering still at the forefront.