The dollar has started the month strong against both the pound and the euro.
The greenback saw a slight wobble against the euro yesterday after a mixed bag of data releases but has since recovered. Although initial jobless claims beat market expectations at 364k, ISM Manufacturing PMI missed forecasts.
Markets will now be waiting for the Non-Farm Payrolls report that is due at lunchtime. This will give an indication of how the US job market is faring and could impact the dollar’s current strength.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
