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Posted August 15th, 2013 by Charles Purdy

US dollar loses ground

A quiet day for the US dollar yesterday saw it lose ground against sterling and the euro on the back of strength of these currencies. Data out from the US showed Producer Price Index results come out behind expectations, damaging the strength of its currency. After hearing from a member of the Federal Market Open Market Committee overnight, today’s important information relating to the US dollar comes in the form of core Consumer Price Index data and unemployment claims, both important indicators on the country’s economy. Any signs of a healthy, stable economy in the US provide further indication that the Federal Reserve will begin to reduce the money printing and bond buying process that is weighing down the US dollar. As such, consistent positive results at this point start to become more influential for the currency, as it would make the tapering more and more likely. Get in touch with your trader now to hear the latest price on the US dollar.

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