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US dollar continues to slide after GDP and jobless claims

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Dollar sold after the data

We’ve gotten through the Fed and some important economic data and the dollar continues to slide. The dollar index is down to a one-month low of 91.93.

It’s edged lower since GDP and initial jobless claims and that underscores the trend in the latter half of the week.

In particular, the euro and sterling are making impressive moves to the upside. Cable turned around quickly as covid cases improved rapidly.

Dollar sold after the data

What next for the dollar?

I’m keeping a close eye on bonds, which haven’t made any kind of strong move since the FOMC. US 10s have been in the 1.24% to 1.29% range this week.

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