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Posted August 6th, 2014 by Charles Purdy

US Dollar boosted by positive data

The US dollar had a more positive day yesterday, making gains against the majority of its major partners aside from a stronger sterling. The US currency was boosted by encouraging data from stateside, pushing the dollar near to the highest point in eight months against the euro. Both of the major releases from the US showed good signs of a strengthening economy, with the non-manufacturing Purchasing Managers’ Index (PMI) and factory orders showing better-than-expected results. With the pace of US growth showing this increased pace, US assets are growing in appeal, reflected in dollar performance.

Today holds just the one piece of interest for US investors, but being from the labour market it is an important one. The figure due is that of unemployment claims, which will be of particular interest given its strong ties to possible interest rate rises. As such, positive figures could continue to bolster hopes of this happening earlier than expected.

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

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Posted December 2nd, 2013 by Charles Purdy

Will the US dollar continue on its downward path?

The US dollar continued to be out performed last Friday as all headlines highlighted its two year low against sterling. While optimism over a December start for the Federal Reserve to begin to taper its program of quantitative easing had given some strength to the currency, this has all but fizzled out now and events were thin at the end of the week owing to Thanksgiving. This is far from the case as we enter a new week and month, as Federal Reserve Chairman Ben Bernanke kicks things off today with his views before data starts with some manufacturing Purchasing Managers Index (PMI).

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.

Posted August 23rd, 2012 by Charles Purdy

USD/GBP Rate & Comments for 23rd August 2012

US$/GBP – 1.5887 Sterling had a relatively strong day yesterday despite the lack of any significant data released in the UK, strengthening against the majority of currencies and reaching a 3 month high of 1.59 against the US dollar after the Federal Open Market Committee (FOMC) meeting minutes were released. Another fairly quiet day for  Continue Reading…

Posted August 22nd, 2012 by Charles Purdy

USD/GBP Rate & Comments for 22nd August 2012

US$/GBP – 1.5776 Sterling had a mixed day yesterday losing ground against the euro and gaining against the US dollar. Data released showing that the level of public sector borrowing was worse than expected due to a rise in government spending and a fall in tax receipts undermined sterling. Other data released from the Confederation  Continue Reading…

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