The dollar is still down against the pound, amid continuing unrest and despite relatively positive data releases, with new non-manufacturing orders, activity and prices increasing. Today, the markets are looking ahead to balance of trade figures, expected to widen, and non-farm productivity, also expected to post a decline.
As other economies reopen with low infection rates, the dollar’s status as a safe-haven currency is also speculated to be less attractive for investors at current, helping to reduce demand.
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.