Currency Note US Dollar

US dollar under pressure

By Ricky Bean August 8th, 2013

The US dollar struggled yesterday, falling by 3 cents against sterling, as well as hitting seven week lows against the Japanese yen. Pressure on the currency continues with the on-going question of when the Federal Reserve will start their tapering program. Late on Tuesday night saw a member of the Federal Open Market Committee say he would not rule out a decision to begin this process as early as next month. Yesterday’s crude oil inventories data from the country had little impact on the dollar’s strength as they came out level with expectations. Out today sees the release of the weekly unemployment claims data, but little else is due to be released. Call your trader today to get the latest price on the US dollar.