Private DCN Private DCN - US Dollar

FOMC decision from the US

By Callum Holmes November 3rd, 2016

The US dollar has continued to weaken against a basket of currencies while uncertainty around the next US president election increases. Polling data from Florida and North Carolina is now in favour of Trump, making the election result even more unpredictable.

Yesterday evening saw a statement from the Federal Open Market Committee (FOMC) where, as expected, they kept both interest rates and their programme of quantitative easing on hold. Expectation is very much for an increase in US interest rates next month.
Looking forward to today, we have unemployment claims data and ISM non-manufacturing Purchasing Managers’ Index (PMI) data due. Any upsets could cause US dollar movement, but the key focus will still be on election uncertainty in the run-up to next week’s polling.

For the latest rates and news on a wide range of currency pairings, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.