The US dollar had a largely positive day to start the week yesterday, strengthening against many major currencies, although not against sterling. The US currency rose following better-than-expected retail sales figures, the first in a raft of releases for the week. This figure showed the biggest rise since September 2009, which, coupled with events from the Eurozone, saw the dollar hit its highest point in almost 3 weeks against the multi-nation currency.
Today, it is the core inflation figure from the US that will be of most influence over the dollar markets, as investors look for further indications as to the state of the economy. Following this, US Federal Reserve Chair Janet Yellen is also due to speak, which will provide further food for thought for investors, as they look to the longer term prospects for the economy and the currency.
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