After strengthening on Monday off the back of rumoured hawkishness, the US dollar weakened against is sterling and euro rivals by the end of Tuesday afternoon.
This morning the dollar is weaker against the pound and euro compared to this time last week, as investors digest yesterday’s economic data. Data released on Tuesday includes building permits, which tumbled 8.8 percent to a seasonally adjusted annual rate of 1.413 million in March.
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.
