020 7898 0500The dollar strengthened once more against sterling and the euro yesterday, and even managed to hit its highest mark against the euro for more than six months before slipping back a little. This was likely more because of events elsewhere as opposed to anything in the US, although increasingly positive signs over the US economy will no doubt linger in the mind of investors.
CB consumer confidence came in as expected, by holding steady at 128.0, which represents an increase from 125.6 the month before. Today is much busier, with the unemployment change for May due in the afternoon. However, all eyes will be set on the second estimate of the GDP growth rate for the first quarter of 2018. It is expected to have come down from 2.9% to 2.3% which would be quite a drop, but who knows? In any event, it will be interesting to see how the dollar performs in the run-up to the release and the aftermath.
