Currency Note US Dollar

US dollar just about holdings its own

By Ricky Bean May 19th, 2014

The US dollar ended last week with little major action of note from stateside to trigger a single shift. The US currency fell against a strengthening sterling, but did end up higher against the euro. Data from the US was mixed, as building permits came out ahead of expectations, before the Consumer Sentiment figure from the University of Michigan missed its anticipated level to reverse the optimism. The start of this week is a subdued one on the dollar front, with just words from members of the Federal Open Market Committee relating to the US.

Wednesday will see the first and most significant event of the week, as a speech from US Federal Chair Janet Yellen precedes the minutes from their latest meeting. As ever, investors will look for any clues as to the long term plans from the economy, especially given recent hopes of movement on interest rates. Thursday brings some physical data for investors, with the labour market providing unemployment claims, and existing home sales also due. The new home variant is the only piece on Friday, rounding off the week in lighter fashion.

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