The US dollar had a largely quiet week, with little movement of note at the start of the week. An indicator of health in the manufacturing sector came out slightly behind expectations, but had little impact on the dollar’s performance. Consumer confidence figures out on Tuesday were ahead of expectations, while new home sales failed to meet predictions, which left the dollar trading within a narrow range.
Wednesday saw some more variation, with the dollar making gains against most other currencies but dropping against sterling. Yesterday then saw further mixed results, resulting in varying fortunes against the other currencies. The main movement was a weakening against sterling, given positive UK data. The US countered this with better-than-expected unemployment claims, but pending home sales were less impressive, leaving the dollar without strong bias in either direction. Today ends the week in a quiet fashion, with no major data due.
Looking to buy or sell US dollars? Contact your trader now for the latest rates and updates, as well as for guidance on currency-buying solutions.