While the overall picture was more mixed for the US dollar yesterday, USD/CNY hit 7.316, it’s highest level since before the global financial crisis.
Most of that change actually comes from problems on the Chinese side of the equation, but the dollar has been on the rise, gaining around 3% against the euro and Canadian dollar over the past month, and 6% against the Australian dollar.
Yesterday’s jobs data was mixed, with initial jobless claims falling from 250,000 to 239,000, but continuing jobless claims rising to 1.716 million.
US data tends to go a little quiet mid-month, and there’s not much to move the market until the very end of August. However, coming up next weekend is the Jackson Hole Symposium, where bankers will be making potentially influential speeches on 26th August.
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
