The US dollar had a mixed start to the week, showing no solitary movement in either direction. This was partly due to no major economic data coming from the country, as the week started slowly. The only event of note was a speech from a member of the US Federal Reserve, William Dudley. He stated that the current levels of inflation gave reason for patience when it comes to any rise in interest rates. As the rate was currently below the central bank’s target, he said the economy may need to run ‘a little hot’ for a while, and this caution took a little of the edge off recent optimism.
Today brings a similar story, with more Federal Reserve members speaking. There are a few minor data releases, including a house price index and a manufacturing Purchasing Managers’ Index (PMI), but no largely influential figures due.