It’s been a positive week for the US dollar, strengthening against most major currencies (except for resurgent New Zealand and Canadian dollars), including close to 1% against sterling.
The drivers for the dollar’s success have been the possibility of the US debt ceiling crisis being averted, alongside more positive economic data that raises the possibility that the Fed can continue raising interest rates at least one more time. Later today we will hear from Federal Reserve chair Jerome Powell, who may give some hints on that.
Next week starts fairly light on data but ramps up on Tuesday afternoon with PMI.
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USD/GBP past year
