US Dollar

US Dollar boosted by safe haven status

By Smart Currency March 4th, 2014

The US dollar had a positive day yesterday, thanks to a combination of economic data and worldwide influences. The current situation in the Ukraine is having some bearing on worldwide currency markets, with the unrest prompting investors to look to so called ‘safe haven’ currencies such as the Japanese yen and the US dollar, causing these currencies to strengthen. Alongside this, the main US figure out yesterday was the Manufacturing Purchasing Managers’ Index from the Institute for Supply Management, which reflects the health of the manufacturing industry. This came out better than expected, and as such added to the dollar’s gains.

Today, there is no major US data due for release, and as such any developments from the Ukraine could govern US dollar markets.

Get in touch with your trader now for the latest US dollar rates, as larger worldwide events exert their influence.