Currency Note US Dollar

US politicians dig an even bigger hole!

By Smart Currency October 3rd, 2013

The US dollar continued to struggle yesterday as its country’s government remained in a state of disarray. With no sign of the government shutdown ending stateside, speculation increased over the possible standoff over the raising of the debt ceiling. This, along with the reducing probability of the Federal Reserve tapering its quantitative easing program in the near term and further dented the US currency. To make matters worse, the ADP non-farm employment change results came in short of expectations, and as such the US dollar fell further. Today we can expect both the unemployment claims and the non-manufacturing PMI data to have a strong bearing on the strength of the US dollars, and as such investors will be keen to hear their results. Should they come out anything but as expected, we can expect some volatility in the markets, especially as the unemployment is a key indicator in the consideration of the tapering program. However, even with all of this, the government shutdown will still dominate. Get in touch with your trader now for an up to the minute price on the US dollar, as the unrest rumbles on.