USD:  Dollar weaker against sterling and euro 

The dollar gained strength against both sterling and the euro yesterday however things take a turn in the opposite direction today.  

The dollar is weaker against sterling.  Against the euro, the dollar is has also lost strength.  

This follows US GDP predictions hinting at continued shrinking on the horizon for America’s economy .

This afternoon market watchers can expect QoQ GDP data from the US. The American economy entered a technical recession after having shrank an annualized 0.9% on quarter in Q2 2022. Inventories and business investment were the main contributors to GDP’s decline. 

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 

 

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