Currency Note US Dollar

US dollar vulnerable to events elsewhere

By Ricky Bean June 7th, 2016

It was a quiet day in terms of US data yesterday, with the majority of the early movement being dictated by last week’s poor Non-Farm Employment Change futures, as well as further weakening for sterling thanks to UK EU Referendum ‘Vote Leave’ polls taking a lead. However, this changed as US Federal Reserve Chair Janet Yellen also spoke yesterday evening our time, which generated market movement overnight and weakness in the US dollar.

We have another quiet day to be expected, with only the revised non-farm productivity data which is of significance. This monitors the efficiency of labour when producing goods and services; a slight increase on the previous month is expected, but the figure will still indicate contraction on the whole.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.