The dollar was low against the pound and the dollar at the end of last week as the markets awaited further developments in US-China trade talks, and the Thanksgiving holiday limited any moves. However, it is looking stronger this morning.
After President Trump signed the Hong Kong bill last week, there are concerns that the preliminary trade deal that was promised will be left unsigned.
We can expect another busy week for economic releases for the US this week, with Manufacturing PMI later today, Balance of Trade figures on Wednesday and Non-Farm Payrolls on Friday. Non-Farm Payrolls are predicted to rise significantly this month from 128,000 to 180,000, after beating expectations last month.
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.
