020 7898 0500It was another quiet start to the week for the dollar, with general market sentiment leaning towards the downside following last week’s continued political uncertainty surrounding the Donald Trump administration.
Although there was little in terms of economic data yesterday, we have plenty of dollar-centric data this week that could dictate the flow of the market. Today we have consumer confidence, although the main focus will be towards the FOMC’s rate decision. While we don’t expect an interest rate hike, we will be looking for clarity on when balance sheet reduction will begin and the timing of the final forecast interest rate hike this year.
Any positive statements towards either of these could help support and strengthen the currency’s position, a much-needed outcome given the recent concern.
