Yesterday’s high: $1.3448
Yesterday’s low: $1.3368
US Dollar Continues Climbing on Domestic Data
Following a comparatively hawkish speech from Federal Reserve Chairwoman Janet Yellen on Tuesday evening, Wednesday’s US data has helped keep the US Dollar appealing, leaving the GBP/USD exchange rate weaker.
The pair hit its lowest levels in almost two weeks on Wednesday, with the ‘Greenback’ boosted by the latest US durable goods orders report. Due to Brexit uncertainties, the Pound was unable to hold its ground.
August’s US durable goods orders were forecast to come in at 1% month-on-month, but instead improved from -6.8% to 1.7%.
USD Outlook: US Growth Stats on Thursday
Thursday could be big for the Pound to US Dollar exchange rate.
US Dollar investors may continue to react to US President Donald Trump’s tax speech, while Pound trade could be influenced by a speech from Bank of England (BoE) Governor Mark Carney.
If Carney continues hinting that the BoE is likely to hike UK interest rates in the coming months, the Pound’s losses may be limited.
Key US Gross Domestic Product (GDP) data from Q2 will be published this afternoon and could also have an impact on USD.
09:15 UK BoE Gov Carney Speech
13:30 US Growth Rate
15:00 US Fed Fischer Speech
09:30 UK Growth Rate
09:30 UK Business Investment
13:30 US PCE Price Index
15:00 US Michigan Consumer Sentiment
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