The US dollar suffered a disappointing day yesterday, weakening against the currencies of major trade partners. There had been significant market confidence ahead of the release of results from the US consumer confidence survey in the US but this optimism soon evaporated as the results were weaker than forecast, rapidly wiping out previous gains for the US currency.
Today sees the release of new home sales in the US, which may influence markets. Greater attention may be drawn to the UK however, where revised fourth quarter gross domestic product figures for 2014 will be released. With sterling pushing back towards a four-year high against the dollar, an improved forecast could see the dollar suffer further losses.
Wondering whether to buy or sell US dollars given market movements? Contact your trader now for live rates and further information.