Currency Note US Dollar

US Dollar rises high against sterling – can it stay put?

By Ricky Bean January 5th, 2016

Yesterday saw sterling open at an eight and a half month low against the US Dollar. The American currency did however lose some of its early gains during the European morning session, as a mixed bag of economic data was released from the UK and Eurozone. The American currency was however able to claw back its losses in the afternoon – despite releasing worse than expected ISM Manufacturing Purchasing Managers’ Index (PMI) for December 2015.

There is no significant Economic Data to be released from the US today, although the dollar may well be affected by the release of German Unemployment Rates, UK PMI Construction and EUR Consumer Price Index plus it is still very much considered a safe haven asset in these times of uncertainty.