020 7898 0500The US dollar had a mixed week, weakening against sterling as sterling was boosted by positive UK data, but strengthening against the euro as positive US employment data boosted US dollar sentiment and poor Eurozone data undermined the euro. Mid-week saw a general boost for the US dollar thanks to positive data from the labour market – the independent non-farm employment change released on Wednesday gave investors some optimism, by beating its expectations. Yesterday saw this trend grow further, as the official figure followed suit and the overall unemployment rate improve unexpectedly to 6.1%. This data has increased hopes of an earlier interest rate rise.
Today rounds off the week in muted fashion, as US markets are closed in observance of Independence Day. As a result, markets could be susceptible to events elsewhere, as well as more severe movements due to low liquidity.
