The dollar declined for a second week, touching its lowest level in almost a month. Main reasons for this were down to weaker than expected U.S. economic data. U.S. factory production unexpectedly declined in January by the most since May 2009 with recent severe weather weighing on production.
Retail sales in the U.S. also fell by 0.4% in January after a revised 0.1% drop the prior month.
This morning the US dollar fell against most of its major counterparts as traders weighed whether weaker U.S. economic data will spur the Federal Reserve to consider a slower pace in tapering stimulus.
The pound climbed to a more than four-year high versus the US dollar due to better than anticipated data overnight. Rightmove Plc said asking prices for U.K homes rose 3.3% this month just from January; the most since October 2012.
The euro fell versus most major peers due to speculation that the European Central Bank will consider negative deposit rates.
Daily Market Report 17/02/2014