Daily Currency Report

The dollar gained against the majors yet again. Its surge also shrugged off good housing data from the UK as industrial production in the US gave a further boost to the already climbing greenback.

GBP
The sterling fell to its lowest level in over two weeks against the dollar, with strong housing data failing to raise expectations of an interest rate rise. The Royal Institute of Chartered Surveyors said its house prices balance jumped to +28 from +20 in the previous period.

USD
The dollar climbed to its highest level since April against the yen and the euro while reaching a two-week high against the sterling. The main driver in the gains was the geo-political uncertainty surrounding the Middle East as investors moved long into the dollar as they view it as a "safe haven" currency.

EUR
Despite solid economic performance the euro has seen its longest stretch of weakness in a month, mainly due to the high oil prices and the continuing tensions in the Middle East as the dollar continues to drive the FX markets.

JPY
The yen managed to gain against most of the majors with exception of the US dollar.