020 7898 0500The US dollar has a bad week. There was a less than impressive start to the week as news that the front runner Larry Summers had withdrawn from the race to become the next chairman of the Federal Reserve. This caused the currency to weaken against most, as this prompted many to feel that the level of aggression in asset purchasing reductions would be lowered. These struggles for the US dollar continued in to Tuesday, in anticipation of the Federal Reserve’s decision on Wednesday. This poor performance was compounded and extended following the news that no tapering was to take place as of yet, a decision that came as a surprise to many, and as a result saw the dollar fall across the board. Yesterday continued the fallout from this, after the result came out late Wednesday, although unemployment claims and existing home sales surpassing expectations gave a little more strength to the currency. Today, no data is due from the US, although speeches from a number of Federal Reserve members could shed more light on to the sentiments surrounding the economy and currency. Get in touch now for the latest price on the currency, at the end of a significant week.
