Dollar strengthens whilst the Sterling continues to struggle

The US Dollar strengthened even more with strong economic data and the empire state manufacturing came in better than expected.

It was predicted to come in at -2.8 but came in at 2.8. The July Industrial Production also was better than expected; 0.2% against forecasts of 0.0%. 

The Euro was low throughout the day; part of the reason was a bank holiday in Europe on Friday. Good economic data coming out of the US didn't do much good for the Euro. The Euro traded with the US Dollar at a low of 1.4659 and a high of 1.4826 before closing the day at 1.4680 in the New York session. 

The Sterling came back slightly, but didn't last too long. With housing data coming out, it showed another slowdown in the market, which was expected. Also data coming out US pulled it back with little highs earlier in the session. The Sterling has struggled even more since the Mervyn King remarks earlier in the week.