The dollar had a strong day, gaining around 1% against the pound, overall, and Australia’s dollar and Canada’s ‘loonie’. There was a smaller gain against the euro.
The prompt for the dollar’s strength has been weaker economic data from the US, plus steadying inflation, that is likely to persuade the US Federal Reserve to pause its interest rate increases.
Yesterday’s Producer Price Index (PPI) measure of inflation was roughly as expected. Later today we’ll hear the Michigan Consumer Sentiment index.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 3918 7255 or your Private Client trader on 020 7898 0541.
USD/GBP past year
From To
