Currency Note US Dollar

US Dollar still in the ascendancy

By Callum Holmes September 12th, 2014

The US dollar started the week in a positive manner, despite a lack of data from stateside. With only the job openings figure to go on, opposing weakness helped the dollar to reach the strongest point since November against sterling, while also touching six-year and 14-month highs against the Japanese yen and the euro respectively. Wednesday continued in similar vein, with the Swiss franc the latest to see record levels, and the dollar reaching the best in over a year.

Yesterday was the first release of significant data, as the labour market revealed the latest unemployment claims. This figure had increased more than expected, to the most in two months, which saw the dollar give back some of the ground to both sterling and the euro. While overnight saw the Federal Budget Balance, today ends the week with some further economic data activity. Firstly we will see the retail sales, as investors look for encouragement as to consumer spending. Following this will be consumer sentiment data from the University of Michigan, as the dollar closes out week that is heavy with data in the latter half.