Currency Note US Dollar

US dollar on the rise

By Ricky Bean July 2nd, 2015

The dollar’s strength continued on Wednesday, as it gained over 1% against the euro and 0.5% against GBP. This was buoyed by positive data in both the ADP employment report and the Manufacturing Purchase Mangers’ Index – leading indicators of economic health.

Today’s release of the key non-farm payroll figure for June, forecast to be slightly better than last month, plus the unemployment rate could be key drivers of further US dollar strength before we enter the long weekend for Independence Day.