Currency Note US Dollar

US Dollar loses ground against sterling

By Ricky Bean June 13th, 2014

US dollar activity has been somewhat limited this week, as the start of the week brought little in the way of economic data. Slight gains were seen against the euro, but losses were endured against sterling. Figures of note did not appear until yesterday, when both retail and labour data were released. Disappointingly for the US, both of these showed levels lower than expected, and, as a result, saw the dollar make losses against a number of its major currency partners for the second day in a row. Today holds a few more points of interest for investors, which could cauase potential movement for the US dollar at the end of an otherwise quiet week. First up is the Producers’ Price Index, before the University of Michigan releases its preliminary Consumer Sentiment. If these show favourable results, we could see the dollar regain some of its earlier losses, but less impressive figures could worsen the situation.