Will the US Dollar pass through the 1.55 level against sterling?

Friday’s release of US Non-Farm Employment Change and Unemployment Rate data met forecasts – there was no substantial strengthening for the US dollar.

This week sees limited US data releases. On Wednesday we have the release of core retail sales data and then on Thursday we have the unemployment claims on Thursday. More encouraging results are needed if the US currency is to recoup the loses it made at the end of last week against sterling, as the expected uncertainty surrounding the UK General Elections was eroded by a Conservative majority.