The US dollar enters the week stronger against the pound by just over half a percent. Against the euro, it is a similar story as with the greenback boasting gains of around 1.62%, compared to this time last Monday.
This comes after a flurry of economic data last week saw the US dollar strengthen against a handful of its rivals, including pound sterling and the euro.
Annual inflation, which fell to 4.9% in April — its lowest rate in over two-years, was a key contributor to the dollar’s surge. The data released by the U.S. Bureau of Labor Statistics also showed that, not only did yearly inflation in the US fall, but it was below market forecasts of 5%.
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