020 7898 0500The US Dollar remained in favour on Wednesday morning, with investor confidence boosted by Tuesday’s solid existing home sales data. The dollar then hit a fresh 13-year high against its major rivals following Wednesday’s stronger-than-expected durable goods report, coupled with longer-term expectations that a stimulus plan from President-elect Donald Trump will kick-start the US economy and encourage the Fed to hike interest rates in the near future.
The minutes released from the Federal Reserve’s FOMC meeting earlier this month also supported the likelihood of increasing interest rates soon and market commentators expect this to happen next month which will be supportive of the US dollar.For the latest rates and news on a wide range of currency pairings, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
For the latest rates and news on a wide range of currency pairings, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
