Investors eye Fed and data for next USD leg up

After rising 11 per cent in 2014 the rise in the USD has taken somewhat of a breather in 2015. Peter Fisher, senior director at the BlackRock Investment Institute says further gains will be data dependent. “For another major leg up in the dollar, you’d have to see another leg up in the data for the U.S. - both for the Fed to come in and validate it and for the market to move on its own. Dollar strength is not a straight line.” Currency traders are scrutinizing each and every release for signs that weakness was short-lived, with data on July 17 forecast to show core inflation accelerating. (VIEW LINK)