Currency Note US Dollar

US dollar strengthens slightly

By Smart Currency July 22nd, 2015

The US dollar strengthened slightly against sterling yesterday, with gold prices plummeting due to the selling of Chinese reserves, and a financial analyst indicating confidence in a US Federal Reserve interest rate hike ahead of the Bank of England. The uncertainty in China caused investors to seek the safe-haven US dollar.

There is no crucial data out today from the US, but investors will be keeping an eye on existing home sales figures for an indication of how the US housing market is doing. Today will mimic yesterday in the sense that it is events outside of the US which could have a big impact on US dollar strength.