US dollar currency exchange rate to rise

The currency exchange value of the US dollar is set to rise, analysts have suggested.

Concerns about the future of the country's economy are easing off, which is in turn renewing faith in the nation's assets, Bloomberg reported.

The dollar was up slightly against the pound this morning (September 10th), buying £0.684 at 08:15 BST.

Robert Rennie, head of currency research in Sydney at Westpac Banking Corp, told the news source: "The tone of data from the US has improved slightly and gives the sense that an awful lot of the bad news has been written in.

"The dollar can do better into October."

Expansion of the manufacturing industry in the New York region and a second month of increases in consumer spending are expected to be revealed in the coming week, the source noted.

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Posted by Chris Barber