020 7898 0500Yesterday was a poor day for the US dollar against its major peers, as all of the major data out of the US fell short of expectation. Continuing on from Monday, the US currency weakened against sterling and, more surprisingly, fell against the Euro for the first time in a week.
This afternoon’s releases of the crude oil inventories and industrial production data are less influential but if poor could well have a small effect on the strength of the dollar, with the latter expected to show further deflation. However, it is the important data out of Europe today that is more likely to force movement on currency markets.
