The greenback was left treading water against the pound and euro yesterday, as the markets continued to ponder which central bank will be cutting interest rates first in 2024.
There was certainly no lack of commentary from FOMC members yesterday, and that continues today.
Overall it has been a seriously negative week for the dollar, with losses of between 1% and 3% against most major pairings following the revelation that the Fed’s battle against inflation remains on course without further rate rises.
Data in the US tends to quieten off towards the end of the month, and that goes for this month especially, with Thanksgiving closing the markets next Thursday. However there will be the FOMC minutes released on Tuesday.
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USD/GBP past year
