US Dollar Strength Following Positive GDP and Unemployment Numbers

Thursday 29th August 2019 – 13:37 (BST)

Figures just released from the US Bureau of Economic Analysis have shown the US economy is currently growing at a rate of 2.0% which is in-line with analysts expectations. The number of first-time claimants for state unemployment insurance fell slightly, whilst the overall number of individuals claiming benefits rose from 1.676M to 1.698M.

This follows comments from the U.S Treasury Secretary, Steven Mnuchin yesterday where he told reporters that the United States does not intend to intervene in currency markets for now. The US dollar has strengthened on the back of the news.

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