Currency Note US Dollar

US dollar weakens on sterling strength

By Ricky Bean April 26th, 2016

The US dollar continued to weaken against sterling as the UK currency continued to strengthen as polls for the UK’s EU referendum suggests that a larger lead for the vote to remain in the union. The only data release we saw was New Home Sales, which contracted against the previous figure.

We can look forward to a more eventful day for the US today, with Durable goods orders due, which are expected to post growth for the first time in two months. Alongside this we will see consumer confidence data – which is expected to drop lower from the previous figure – and Flash Services Purchasing Managers Index (PMI) data, which is expected to post its highest figure in three months.

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