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Will US dollar strength continue?

By Callum Holmes June 29th, 2016

It was seen as an encouraging day for the US dollar due to data releases. Final Gross Domestic Product (GDP) data – a measure of growth – was released early yesterday afternoon, and showed a positive revision on the previous figure, with the quarter’s growth now on par with last quarter’s. Consumer confidence data also showed growth, rising to a five-month high. Movements were still hard to see in the market, with sterling still dominating movements due to last week’s Brexit.

Today we can look forward to personal spending data, which is expected to show decreased growth compared to the previous month, with personal income also expected to follow suit. Any surprises could cause fluctuations in US dollar markets, as could any further Brexit developments from the UK.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.