020 7898 0500The US dollar continued its gains against the pound yesterday as it initially strengthened further but the pair traded within a relatively tight range. .At present there has been a lack of headlines around UK politics and Brexit, but renewed interest could cause implications towards the pairing in coming weeks.
Yesterday saw building permits come in negatively at 1.16m against a 1.25m target, but this had limited impact on the dollar. The US housing market also showed some poor figures yesterday as housing starts fell by 4.8% in July, against an expectation of a 0.4% increase.
Looking ahead, the market’s attention is likely to be on hints of further tapering by the Federal Reserve, while today we have employment claims data.
