Currency Note US Dollar

US dollar strengthens thanks to weak sterling

By Ricky Bean September 24th, 2015

The US dollar strengthened on Tuesday, with very little data releases. Flash Manufacturing Purchase Manager’s Indices (PMI) showed a stable figure, with continued growth. This strength from the US dollar was mainly due to sterling weakening across the board.

We can expect more data releases today, with core durable goods orders expecting to show a small decline on the previous month’s figure, and the weekly unemployment claims expecting to remain stable. US Federal Reserve chair Yellen also speaks later this evening, where any indication regarding an interest rate rise may lead to further US dollar strength.