Currency Note US Dollar

US dollars hits year low against sterling

By Smart Currency November 28th, 2013

The US dollar had a mixed day in itself yesterday, despite hitting a year low against sterling following strength from the UK currency. Unemployment claims from stateside helped the dollar claw back some of this lost ground, as it came in ahead of expectations. Given its influence over when the Federal Reserve will start to taper its quantitative easing program, strong figures from this area continually stoke the fire of an earlier taper, although the prospect of a December taper was dampened somewhat by comments from Federal Reserve Chairman Ben Bernanke. In his speech, he revealed that the central bank garnered concerns about the long-term prospects for their economy, even with the strong projected growth for 2014. Today, there is no activity from the US as they have a Bank Holiday in celebration of Thanksgiving, and as such events elsewhere could dominate markets. Call your trader for the latest on the US dollar, as investors have a day to mull over previous events.