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Posted November 26th, 2013 by Charles Purdy

Data disappoints but taper talk boosts the US dollar

The US dollar started the week in positive fashion strengthening against the majority of it counterparts throughout the day after the Federal Reserve hinted that it may begin tapering its quantitative easing program in the near future. This US dollar strength came in spite of data released showing that the number of homes pending sale fell for a fifth month in a row in October. Today’s US Consumer Confidence figures could have a significant impact on the strength of the US dollar when they are announced later. The bulk of other significant data releases for the US are due on Wednesday and strong results either way on these upcoming figures could have a knock on effect on the Federal Reserve’s plans for tapering its quantitative easing program. Call now for up to date US dollar prices from your trader.

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