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Today’s USD Overview

The US Dollar had risen to a 1 month high against a basket of other currencies yesterday, rising on upbeat news about the economy and Janet Yellen the FED chair hinting recently that interest rates may go up soon. However this morning the Dollar has weakened off a little, helping push GBP/USD back to around the $1.25 level. This is because Industrial output and home builds slipped and investors took profits while the Dollar was high. Today we have a raft of data from across the pond including Building Permits, Jobless Claims and a Manufacturing Survey. These will shed more light on how the US economy is performing and may strengthen the USD further if the numbers are better than expected.

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