020 7898 0500The US dollar had a largely positive day, following the release of further encouraging data. Trade balance figures released yesterday showed the deficit had shrunk and by more than anticipated. As a result, the US dollar appreciated, in particular extending the recent gains against the Japanese yen. Investors also mulled over the Senate’s decision to appoint Janet Yellen as the successor to Ben Bernanke’s as the Chairperson of the Federal Reserve, albeit with the lowest recorded support ever. Today is another important one for the US dollar, starting on the data front with the ADP non-farm employment change, which will wet investors’ appetite ahead of Friday’s more influential non-farm payrolls figures and overall unemployment rate. Then, later this evening, the minutes from the most recent Federal Reserve meeting will be released, significant as always but especially following the decision at last month’s meeting to taper the central banks quantitative easing program. Investors will look for some clarity as to the degree of consensus from the members of the Federal Open Market Committee (FOMC) with regards to the central bank’s decision to taper. Call your trader now for the latest US dollar rates, with some crucial events early in the year.
