020 7898 0500Yesterday was a mixed day for the US dollar, falling against sterling and the Japanese yen. Losses for the currency, however, were curtailed thanks to non-manufacturing PMI data released, showing that the service industries in the US had expanded ahead of expectations. At the same time, gains were seen for the currency against the Euro. Speculation on when the Federal Reserve will begin their tapering program still occupies investors, and will continue to affect the performance of the currency – especially in light of comments from one of the members of the Federal Reserve who yesterday suggested that the central bank should start to taper in September. Today’s most important release for the currency will be the trade balance, due out at 1.30pm, and this will likely have a noticeable impact on the strength of the currency, while later on this afternoon another member of the Federal Open Market Committee is speaking. Get in touch with your trader today to get the latest price on the US dollar.
