020 7898 0500If we look at dollar movements from last week we can see that it didn’t really do all that much across the five working days. There was some significant intraday volatility, but, overall, nothing much to write home about. Most of the dollar’s recent strengthening had already been done by the beginning of last week and it held that position. As it reached fresh highs against the pound the question really is in which direction will the next big move come? It has gained almost eight cents against the pound since 16 April, but will it retrace these gains or continue soaring? Nobody knows.
On Friday, we saw the University of Michigan’s consumer sentiment which held steady at 98.8, beating expectations of 98.5 along the way. Other than that, it was a fairly quiet day for economic data, but after the week we had that was perhaps for the best. Today is pretty much the same, but tomorrow we will see retail sales for April which are expected to dip from 0.6% to 0.4% and on Wednesday we will see industrial and manufacturing production figures.
