Wednesday was another day with the US currency markets being dictated by sterling. Two US Federal Reserve members, William Dudley and Esther George, spoke in the afternoon, but did not say anything that swayed markets. The only data release during the UK trading hours was the JOLTs job openings figure, which declined to its lowest level since 2015. After closing the minutes of the last Federal Reserve meeting were released and they detailed a very “close call” on whether or not to increase US interest rates. This increases the likelihood of the Federal Reserve raising interest rates in December.
We can expect another day with minimal data releases out from the US. This means that sterling activity is more likely to drive US dollar performance. Some data releases include weekly unemployment claims, which are expected to post another stable figure, and import prices, which are due to show growth after a month of contraction.