USD: a quiet week for economic data but a positive start for USD

It was a good start to the week for the dollar, despite the lack of economic data in what is set to be a fairly quiet week.

Positive comments from Federal Reserve member William Dudley led to a strengthening of the dollar. This, coupled with last week’s interest rate announcement, bodes well for the dollar, leaving the door open to a further interest rate hike later this year.

Looking to the day ahead, there is no data of note, and we expect political drivers to be the key focus. These tend to be the most uncertain, so get in touch with our traders should you wish to discuss your foreign currency exposure.