Currency Note US Dollar

US dollar helped by safe haven status

By Smart Currency May 21st, 2014

The US dollar managed to gain ground against most of its major partners yesterday, although not against sterling, despite a notable lack of activity to affect its relative strength. The US offered up no physical data to interest investors, as it relied on other areas and speculation. While overnight we heard from a few members of the Federal Open Market Committee, it is today’s forthcoming minutes from them that investors have their eyes on. As ever, this information will interest investors as they look for any clues as to future prospects for the currency, including the possibility and timeframes for any interest rate hikes. Alongside these minutes, US Federal Reserve Chair Janet Yellen will be speaking, to further add to the possible hints that could influence the markets. Apart from this, there are no major data points for the day to speak of, so this evening’s release will be the main event. Call your trader now for the latest rates.

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