The NAHB Housing Market Index was slightly lower than expected, but this was a quiet start to the week. The greenback recovered early losses against the EUR as soon as news of Speaker Bercow’s intervention broke and the single currency was reined in alongside the GBP.
The general weakening of the dollar over the past 12 days or so has continued, however. Tomorrow we have the Federal Reserve interest rate decision – always a cause of tension even if nothing is expected to change.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
