020 7898 0500The US dollar had a mixed day thanks to the continuing uncertainty over when the Federal Reserve will begin to taper their quantitative easing program. Words from a key policy voter leant towards this happening sooner rather than later, albeit on a small scale because of the inflation levels. However, the dollar fell in early trading to the worst point against sterling since August 2011, whilst losing ground against the euro at the same time. On the data front, there was nothing of major note from the US to counteract sterling’s advances, although the dollar did scrape back a little ground to spare its pride. Today is then slightly busier stateside, with crude oil inventories, 10 year bond auctions and the Federal Budget Balance all due later on. With tapering at the fore front of investors’ minds, any positive data could be seen as further reason to implement this at the next Federal Reserve meeting, and as a result could improve the state of the dollar. Get in touch with your trader now for the latest rates, as tapering continues to dominate the headlines.
