US Dollar to see the year out in style?
The US Dollar continues to pressure both the Euro and the Pound following yesterday’s strong December consumer confidence reading coming in at 96.5, considerably above the expected 93.8. As a consequence, GBPUSD dipped into 1.47 range then slowly consolidated back to low 1.48. A similar trend was apparent against the Euro.
GBPEUR traded sideways yesterday and the outlook is more of the same today with another bleak day in terms of economic data releases. Expect no thrills today.