The dollar is really struggling to muster a resurgence, and Wednesday brought another day of less than encouraging data. Non-farm Employment change fell way below expectation, and although the Preliminary Unit Labour costs were better than expected, this failed to help the US dollar claw back the lost ground. Only two weeks ago we saw the dollar comfortably below the 1.50 against Sterling, but this seems a distant memory.
Today sees the release of US Unemployment Claims and these are expected to be worse than the previous month. However, with UK election day upon us, political uncertainty could cause the US dollar to strengthen against the pound.