The US dollar’s recovery has outpaced even the euro’s this week, with a gain of 2% against the pound, almost that much against the Japanese yen and 0.5% against the euro.
However, against sterling, that simply returns us to the levels of last week, and the greenback remains over 2% down over the course of the past month.
Data out yesterday including a significant fall in retail sales between October and November, despite the Black Friday (and Cyber Monday) promotions. Electronics and hobby/sporting goods were among the big losers.
Later today there will be PMI data.
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USD/GBP past year
