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Posted August 28th, 2013 by Charles Purdy

Concerns over Syria and consumer confidence data creates volatility for the US dollar

Yesterday was a mixed day for the US dollar, as fears of the crisis in Syria escalating further were met alongside consumer confidence data which came in better than expected. The US dollar rallied somewhat due to its perceived safe haven status with the instability in Syria dominating the headlines, although it underperformed against the Swiss franc and Japanese yen. Today, the major data released which has the potential to significantly affect the strength of the currency is the pending home sales, which is due out at 3.00pm, while of slightly less significance there is also crude oil inventories. That being said, any significant developments that occur surrounding the situation in Syria could cause a marked reaction to the US dollar and FX market as a whole. Get in touch with your trader now for an up to the minute price on the US dollar, as it reacts to all of this information.

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