Last week’s high: $1.4291
Last week’s low: $1.4085
Trump Rhetoric Prompts Losses for the US Dollar
The Pound US Dollar exchange rate struck its highest levels since the Brexit referendum last week as geopolitical concerns weighed heavily on USD.
These concerns were even enough to offset some impressive US inflation figures, despite suggestions that they could lead to more aggressive monetary tightening from the Federal Reserve.
However the Pound’s advance was not without its own hurdles as weaker-than-expected industrial production figures dragged on the currency in the second half of the week.
USD Outlook: Robust Inflation and Wage Figures to Bolster Sterling?
Looking ahead the Pound may continue to strengthen over the coming week if the UK’s inflation and wage growth figures both print as robustly as forecast.
Meanwhile the US Dollar may look to advance at the start of the week if US retail sales rebound in line with expectations.
There will also be a number of speeches by Fed Policymakers dotted throughout the week, which may boost USD if they hint that the door may still be open for the Fed to raise rates three more times this year.
13:30 US Retail Sales (Mar)
09:30 UK Unemployment Rate (Feb)
09:30 UK Wage Growth (Feb)
14:15 US Industrial Production (March)
18:40 US Fed Evans Speech
09:30 UK Inflation (Mar)
09:30 UK Retail Sales (Mar)
11:45 US Fed Mester Speech
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Senior Currency Broker
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