Greenback ends the year on a high

As we enter the last full trading day of the year, the greenback trades below 1.59. Yesterday’s US consumer confidence showed a figure of 52.90 against an expected 53.0, but still up on November’s figure of 50.6. On the back of this data the dollar moved over 1.60 but shifted back towards 1.59 levels soon after as thin market trading continued.

German consumer price index figures released yesterday afternoon added support to the euro as we saw an increase to 0.8% from an expected 0.7%, up on last years 0.3% and euro/gbp fell below 1.11 where it is trading this morning.

Today we have very little data for release, with the exception of  Chicago Purchasing Managers’ Index (Dec)  and Swiss Leading Indicator (DEC).