The US dollar remains offered as the fresh week gets underway. After losing almost 4% last week in the wake of a downside surprise on the latest inflation report, it appears the buck continues to endure selling pressure.
The pound established itself above $1.18 versus the US dollar last week and remains above that level as Tuesday’s trading session gets started in Europe. The latest UK employment report has crossed the wires, the data was mixed with the unemployment rate ticking slightly higher but with and upside surprise on the number of jobs created.
Elsewhere, today sees Eurozone GDP and employment numbers. From the US the highlight will be the October producer price index report which is scheduled for release at 1.30 pm.
Written by Viv Savani. 8:29am, November 15th 2022
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