The US dollar continued to trade firm against its peers amid a busy Wednesday. Data showed that the US ISM manufacturing PMI declined to 58.7 in October which was slightly below estimates. The ADP private payrolls firm showed that the US economy added 235k jobs in the private sector. The numbers for September were revised down to 110k.
The FOMC meeting yesterday was a non-event as the central bank maintained the short term interest rates steady. The Fed signaled that it would continue hike rates gradually.
Looking ahead investors turn to the UK as the Bank of England holds its monetary policy meeting. The central bank is expected to hike interest rates by 25 basis points although it is most likely to retain a dovish bias. The BoE Governor Carney is also scheduled to speak later after the release of the monetary policy statement.
