The dollar went in all sorts of directions yesterday as comments from Federal Reserve chair Jerome Powell and other policymakers on the Fed’s interest-rate-setting committee the FOMC were considered.
From tomorrow the members of the FOMC go into a blackout period leading up to their interest rate decision on 1st November.
Against most currencies the dollar had returned to its position at the start of the day, but remained weaker against the euro.
Also yesterday, ‘initial jobless claims’ were better than expected, with 198,000 new claims when 212,000 had been expected.
Next week starts quietly, and there won’t be much of interest until GDP on Thursday.
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
