020 7898 0500The dollar enjoyed a fine start to the week yesterday, as investors appear to have more confidence in the US currency than they have done for a while. The dollar index climbed by approximately 0.45% to its best levels since the beginning of March and the dollar hit a two-week high against sterling. The continuing rise in US treasury yields appears to have convinced large parts of the market that US interest rates will rise and keep rising.
PMI data was also released, with composite, manufacturing and services all hitting the wires. Manufacturing was particularly strong, coming in at 56.5 against a forecast of 55. It is the fastest pace of expansion since September 2014. Existing home sales jumped by 1.1% to 5.6 million in March which was better than expected.
Today we will see new home sales for March and we will also see CB consumer confidence for April.
