020 7898 0500Continuing the trend set on Monday, the US dollar enjoyed another good day yesterday, making further gains on the majority of its most traded partners, notably the euro. This followed the news that retail sales had increased for the fourth month in a row. The actual figures were better than expected showing 0.5% growth, compounding the reaction in the currency’s performance. All of this added fuel to the fire that is the timescale for the implementation of tapering, with encouraging signs from the US economy adding to the likelihood that the monthly bond purchases from the Federal Reserve will start to be slowed down sooner rather than later. Plenty more data is due from the country this week starting today with the Producer Price Index, a leading indicator of inflation. More positive news for the economy could help the currency, while further shifts in the its fortunes are possible in reaction to results later in the week. Get in touch with your trader now for the latest price on the US dollar.
