Following a recent tough run against sterling, where it fell to five-year lows, the US dollar recovered yesterday after minutes from the latest meeting of the UK’s Monetary Policy Committee (MPC) showed uncertainty amongst policy makers. This strength against sterling came in spite of an unexpected drop in new home sales to the lowest level in 8 months. Following impressive existing home sales data on Tuesday however, this poor result was largely ignored in the markets as the dollar held its ground against its major currency partners.
Today sees the release of unemployment claims and core durable goods orders from the US, both of which have the capacity to impact markets if they deviate from forecast levels.
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