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Posted December 10th, 2013 by Charles Purdy

US dollar weakens slightly

The US dollar had little to feed on yesterday, with investors hungry for more signs as to when the Federal Reserve may look to start tapering its quantitative easing program. After last week’s strong data released, especially on the labour front, yesterday held nothing to sustain the US dollar’s advance, and as a result we saw the American currency fall for the first time in five days against sterling. Today is likely to continue in the same vein, with data again drawing a blank for the day, and so any further speculation surrounding the possibility of a December taper could exert its influence over the markets as we draw closer to the central bank’s decision a week on Wednesday. Yesterday, Goldman Sachs’ chief economist claimed he wouldn’t rule out this happening before Christmas putting more weight behind the possibility of a December taper, as a result, any significant data emanating from the US will surely be closely scrutinised by investors as they look to second guess the Federal Reserve’s monetary policy decisions. Get in touch with your trader now for the latest US dollar rates, as the central bank decisions looms ever closer.

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