Currency Note US Dollar

US Dollar recovers from early slump

By Smart Currency April 29th, 2014

The US dollar started the week with mixed fortunes, as internal and external results drove the markets. Firstly, it plummeted to fresh lows against sterling to reach the lowest point since November 2009. This came mainly thanks to UK optimism, alongside significant mergers and acquisitions talk between US and UK companies. The dollar fought back in the afternoon, as a much better than expected pending home sales figure gave it some strength.

Today there is just one influential release from stateside, which comes in the form of Consumer Confidence data from the Conference Board. Alongside this, investors will be looking forward to tomorrow as the most important day of the week for the dollar this week, with a statement from the Federal Open Market Committee (FOMC) and growth results due.

Looking to buy or sell US dollars? Contact your trader now for live rates, news and currency-purchasing strategies.