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The US economy grew 3.2% in the three months to September compared to the 2.9% estimated and is expected to continue the trend in the coming quarters.

Sterling slumped from a two week high against the US Dollar yesterday, erasing almost the entirety of its gains from last week in a matter of hours.

Currency markets took a break from the torrid volatility seen since the US Presidential Election. The Euro rebound from its two-year low against USD.

Sterling strengthened for the second straight day against the US Dollar, while remaining on track for its best monthly performance in eight years.

The US Dollar index increased 0.6% to its strongest position in almost 14 years on Wednesday, buoyed by the impressive set of durable goods data.

Attention is on Chancellor Hammond’s Autumn statement, his first opportunity to outline priorities for taxes and spending following the Brexit vote.

With economic news relatively thin on the ground this week, attention in Europe has begun to turn to the Italian referendum in the first week of December.

Strong US economic news and hawkish commentary from the Fed is reinforcing Dollar appreciation based on anticipated faster growth and higher rates.

December is beginning to shape up as a particularly busy month in the currency markets with crucial Fed and ECB meetings and the Italian referendum.

The US Dollar surged to the strongest position against its major peers in almost 14 years, while strengthening to a twelve month high against the Euro.