020 7898 0500The last two months have been good for the dollar to say the least. It has been a little volatile on an intraday basis but, overall, it has made some solid gains against sterling and the euro. Its performance against the pound in particular has been pretty impressive and while there have been no big moves recently, it has consistently strengthened a little which has amounted to something more tangible. The gains now stand at around eight cents since 16 April.
On Wednesday we will see new home sales for April, as well as the minutes from the FOMC meeting. These could provide clues as to future economic policy, especially concerning interest rate rises for the rest of the year. It wouldn’t be a surprise to see some significant currency volatility this week, so strap in and get ready for a potential rollercoaster.
