US dollar has a good week against sterling

US dollar movements this week were centred around the Federal Open Market Committee’s two day meeting. There was no change to policy at the meeting and whilst no-one really expected the Federal Reserve to commence tapering its quantitative easing program this month, the accompanying statements left the possibility of a December taper on the cards. The statement showed that the policy makers were less concerned about higher borrowing costs and would look for an improvement in the labour markets before reconsidering. Unemployment claims figures released yesterday from the US made little impact, as they came in as expected. Other data released this week included the influential retail sales and inflation which were as expected. Today, the Manufacturing Purchasing Managers Index is the only significant release from stateside, and as such could be the main cause of any market movements to see out the week. Call your trader now for the latest US dollar rates and to see how the dollar finishes after another roller coaster week.