Home » Currency Note » Currency Note » Currency Note USD » USD: Dollar strengthens with strong growth for service sector

The dollar made gains against both the pound and the euro yesterday, as better-than-expected service sector data was released. Non-manufacturing PMI grew from 56.7 to 59.7 in January, boosting on the dollar’s previous day gains and beating the prediction of 57.4.

Positive housing data also benefitted the dollar, with new home sales rising to a seven-month high in December.

Despite a flurry of recent optimism surrounding the US-China trade deal, U.S. Secretary of State Mike Pompeo said in a media interview yesterday that President Trump will reject a US-China trade deal, if it’s not perfect. He stated that ‘Things are in a good place, but it’s got to be right’.

It seems that we could see a repeat of last week’s events between Trump and North Korean leader Kim Jong-un, when Trump stated that ‘sometimes you have to walk, and this was just one of those times.’ Could the same happen with China?

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.

Find out how we can help you

Let us know a little more about your upcoming currency exchange needs. We aim to take the uncertainty away by providing guidance on which services suit your individual requirements. You can then rest, assured your money is not at the mercy of the currency markets.

Protect against risk

Avoid losing money and protect against currencies moving against you.

Dedicated trader

Dedicated currency trader working with you to get the best value for your money.

Secure and efficient transfers

Secure, quick and efficient transfers. Authorised by the FCA.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Keep up to date

Get regular, jargon-free currency market updates delivered directly to your inbox.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Refer a friend or business

Recommend our services to your friends, family or colleagues and earn great rewards.