US Market Wrap: Sweet day for stocks, bitter for the pound
- Japan: CPI 2330 GMT
- Japan: Employment Report 2330 GMT
- Japan: Household Spending 2330 GMT
US Data released
- Initial Jobless Claims (Actual 268,000 vs. forecast 267,000)
- Chicago PMI (Actual 56.8 vs previous 50.7)
It was a busy month's end in FX markets and the speculation of US dollar buying for month-end portfolio rebalancing requirements, proved to be bang on, at least against GBP and CAD. The impact on the remaining G10 currencies was less noticeable.
saying the UK economy was already showing signs of strain. Photo: Flickr
Michael O'Neill is an FX consultant at IFXA Ltd. Follow Mike or post your comment below to engage with Saxo Bank's social trading platform.