US banks were off yesterday in celebration of Martin Luther King Jr. Day, resulting in a relatively more volatile market. The US dollar experienced mixed results against its currency rivals during those thin trading conditions.
Against the euro, the greenback traded up slightly, experiencing mild bullishness and ending the day near the 1.3275 mark. The GBP/USD, on the other hand, moved upward, indicating a modest downturn for the buck versus its British counterpart. The pair ended the trading day just over 1.5900.
The American markets will reopen today with one economic report which traders should be on the lookout for. Treasury International Capital (TIC) will be releasing its monthly report on long-term foreign purchases of domestic securities today at 14:00 GMT, and should reveal a significant growth in demand for the USD. This may provide a modest boost to the USD against its currency rivals unless the report fails to meet expectations.