The dollar has enjoyed a strong week against most major rivals over the past week, although it remains slightly down on GBP overall. This was despite quarterly GDP dropping to 2.7%, marginally below expectations.
There is some data of note this afternoon, with income and prices for January. The dollar’s strength has been driven by hopes of further interest rate rises from the Fed, so today’s Core PCE Price Index will be closely monitored. A rise of 0.3% is expected, bur as we’ve see from the UK recently, such predictions can be very wide of the mark. Will prices be rising faster than personal income? We’ll see this afternoon.
Next week starts with Durable Goods Orders.
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USD/GBP past year
