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USD: pretty good day for the dollar despite Trump’s U-turn

By Michael Cooper August 23rd, 2017

The dollar had a relatively good day yesterday despite Donald Trump’s commitment to send up to 4,000 troops to Afghanistan. The news was welcomed by the Afghan President who commended Trump’s decision to fight against the threat of terrorism.

The greenback strengthened off the back of weak eurozone data, with German investor confidence falling in August and investor speculation in the run up to the central bankers’ summit in Jackson Hole this week.

Later today we’ll be hearing the flash August PMI data. We saw a rise in the manufacturing and production indices in July. Forecasts for this month suggests it will edge higher and create a sense of a good level of economic expansion in the US. We’ll also be hearing existing home sales and durable goods orders for July.

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