The dollar slipped against most major currencies yesterday as global risk sentiment shifted once again and stock markets recovered.
Economic data also went against the greenback, with Markit PMI well below expectations across all industries.
Against sterling the dollar has lost 1% on the week so far but is still at around its strongest trading position since the start of the year, while against the euro the week’s fall has been smaller and it remains close to its strongest since last autumn.
This afternoon we’ll hear more on home sales and tomorrow is the relatively important Durable Goods Orders. The big event of the week will be the Jackson Hole Symposium – held online rather than in the Wyoming resort once again due to the Delta variant – where US central bankers will outline their thinking on monetary policy.
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