USD: Fed’s resolve boosts dollar

The dollar shot upwards yesterday, ending the day half a percent up on the pound and yen and not far off that against the euro. The reason for the dollar’s strength is the US Federal Reserve’s continued hawkish view of interest rates, with no cuts imminent.

This afternoon there will be the S&P Global PMI reading, but the next major data point will be GDP next Thursday.

USD/GBP past year

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