A mixed week reaches its final day with the dollar flying high against the pound and most commodity backed currencies (NOK, AUD etc) but falling behind other ‘safe haven’ currencies like JPY and CHF.
The Fed was the odd bank out this week, raising headline rates by just 25bp, albeit to a higher level overall (4.75%) than in the UK or Europe.
Some effects of that rise in interest rates will be heard today, with non-farm payrolls and also the ISM non-manufacturing PMI early this afternoon. Will last month’s unexpected and dramatic fall to below 50 be repeated or reversed?
Next week is a relatively quiet one for data in the USA.
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USD/GBP past year
