Monday, 23 January 2017

GBP/USD heading back towards $1.25


Today has seen the pound rise against the U.S. dollar, with the GBP/USD cross pushing towards $1.25 and leaving the currency pair at its highest level since 15th December.


For the best GBP/USD exchange rates click here.


Since yesterday evening the pound a risen over one per cent against the dollar, mainly down to investors moving away from the greenback as they wait to hear details about President Trump's policies.

GBP/USD graph




With markets unsure about the impact Trump's administration will have on the U.S. economy, the dollar may struggle to hold onto the gains it has made over the past couple of months.

The dollar's value has surged since Trump won the election, as he promised to boost growth by cutting taxes and increasing fiscal spending. However, the President is now seems to be concentrating on renegotiating existing trade agreements and withdrawing from the Trans-Pacific Partnership (TPP) altogether.

Coupled with his on-going war with the media, investors and traders are now bracing themselves for a rocky few months, and could result in the dollar losing even more ground.

Do you need to buy or sell dollars?

 
If you are looking to buy or sell dollars in the weeks and want to make sure are making the most from your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange I have a range of tools at my disposal to help protect you against adverse market movements or target a rate of exchange that might not be currently available.

For more information about how I can help or to find out what rate of exchange I can offer, complete the contact form by click on the link below.
 

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Friday, 20 January 2017

The pound dips after weak retail sales reading.

Since my post yesterday we have seen a one cent swing for the GBP/USD cross, with the currency pair bouncing between $1.2275 and $1.2375.

Looking for the best GBP/USD exchange rate? Click here


Overnight the dollar fell as markets waited in anticipation for President-elect Donald Trump to be sworn in later on today, weakening the dollar and helping to push GBP/USD back to $1.2375.

However, the pound has been unable to hold onto the ground it has made, after weaker than forecast UK retail sales figures were released this morning.

Figures released by the Office for National Statistics (ONS) showed that retail sales had fallen by 1.9% in December, the biggest monthly drop for over four and a half years.

The data release had an immediate impact on the value of the pound, and with sterling tumbling across the board the GBP/USD cross now finds itself trading $1.2270.

GBP/USD chart.

 
 
 
With Donald Trump set to become the 45th President of the United States this afternoon, we could see some heightened volatility in the currency markets over the course of the day.
 
As I have mentioned before investors are concerned about what Trumps presidency will actually mean for the U.S. economy. If he fails to deliver his promise to cut taxes and increase fiscal spending, it could prevent the Federal Reserve from hiking interest rates and we could see the dollar weaken across the board.
 

Do you need to buy or sell dollars?

 
If you are looking to buy or sell dollars in the weeks and want to make sure are making the most from your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange I have a range of tools at my disposal to help protect you against adverse market movements or target a rate of exchange that might not be currently available.

For more information about how I can help or to find out what rate of exchange I can offer, complete the contact form by click on the link below.

 

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Thursday, 19 January 2017

Dollar gains after Fed comments

The GBP/USD cross dipped back into the $1.22's last night after Fed Chair Janet delivered a speech on the Federal Reserve's plans for future monetary policy.

Speaking at the Commonwealth Club in San Francisco, Yellen promised a "few" interest rate rises in 2017 and that the hikes could come quickly.

For the best GBP/USD exchange rates click here.


Although her latest comments are nothing new (Yellen stated the U.S. central bank could look to increase its benchmark rate three times this year when they raised rates last month), the promise of further action helped the U.S. dollar put an end to its worst run in almost five months.

Her announcement caused the dollar to surge across the board, pushing the GBP/USD cross down to a low of $1.2260, leaving the currency pair almost 1.3 per cent down from the highs of $1.2414 we witnessed on Tuesday evening.

GBP/USD the week so far.




What does it mean for you?


This has been one of the most volatile weeks we have seen for some time, so with that in mind I thought it would be worth looking at the move of pound/dollar in monetary terms.

Over the last four days the difference between the lows and the highs for the GBP/USD cross currently stands at 3.5 per cent. If you were converting £300,000 into dollars, that's a difference of nearly $13,000 and shows how quickly things can change in the currency markets.

What next?


In the medium to long-term, Brexit is going to continue to have an impact on the value of the pound. Although Theresa May's speech this week has provided the markets with some clarity, there is still a long way to go until a deal is struck and things return to some kind of normality.

In the short-term, Donald Trump's Presidency could cause some waves in the currency markets. Investors are still unsure about what his Presidency will actually do to the U.S. economy, and if he fails to deliver on his promises then we could see the dollar weaken.

Do you need to buy or sell dollars?


 If you are looking to buy or sell dollars in the weeks and want to make sure are making the most from your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange I have a range of tools at my disposal to help protect you against adverse market movements or target a rate of exchange that might not be currently available.

For more information about how I can help or to find out what rate of exchange I can offer, complete the contact form by click on the link below.

Click here to complete the contact form.

Wednesday, 18 January 2017

Pound/dollar slips back to $1.23 after surging yesterday.

After the rise we saw yesterday, which ended with the pound gaining around four cents against the dollar, the GBP/USD cross has dipped throughout the day's trading session with the currency pair now trading just above $1.23.

 

Do you want the best pound/dollar exchange rate? Click here. 


Following UK Prime Minister Theresa May's speech yesterday the value of sterling soared, with the pound clawing back some of the ground it had lost over past few weeks. May's promise to hold a parliamentary vote on any Brexit deal had given investors some much need confidence. However with the future of UK economy still a concern, we are already starting to see the pound give up some of the gains.

GBP/USD graph.




What can we expect next for the pound?


The easiest answer is more volatility. Although Theresa May's twelve point plan has provided some clarity on the government's plans, I still expect the pound to remain under pressure for the foreseeable future.

We are still waiting for Article 50 to be invoked in order for official divorce proceedings to begin, and it could then take years of negotiating before any type of deal is struck. Theresa May has already stated that she will not provide a running commentary on how negotiations are going, and I think that will continue cause some uncertainty and will stop the pound making any significant ground against the dollar.

Are you looking to buy or sell dollars?


If you have a requirement to buy or sell dollars in the weeks or months and are worried about the impact Brexit negotiations will have on your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange, not only can I help you get the best possible exchange rate, I can also look to help you with the timing of your transfer to maximise the return.
As you know the currency markets are impossible to predict and can change in the blink of an eye, but by having an expert like myself on your side you could potentially make or save you thousands of pounds.
I have a range of tools at my disposal, all designed to protect you against adverse market movements and help you budget efficiently. For more information about the range of tools available or to find out what rate of exchange I can offer, use the link below to complete the contact form.


Click here to complete the contact form.

 

Tuesday, 17 January 2017

The pound surges after May speech

The pound is currently surging against the dollar, with the GBP/USD cross now trading over two per cent higher than when markets opened this morning.

For the best GBP/USD exchange rates click here.  


As you can see from the graph below, the currency pair has risen over three cents since last night, meaning the pound has just had its biggest intraday gain against the U.S. dollar since 2008.

GBP/USD graph




Why has the pound risen?


Sterling has climbed across the board, following UK Prime Minister Theresa Mays eagerly awaited speech regarding her plans for Britain's exit from the European Union.

May outlined a twelve point plan, but it was her promise to hold a parliamentary vote on Britain's deal to leave the EU, and that she would look to stay as a key European partner, that have given investors some much needed confidence.

The pound has been in free-fall over the past few weeks, losing around six per cent against the dollar since the start of December,

The fall was largely down to Theresa May stating that she would give up access to the single market, and she maintained her stance this afternoon by saying the UK "cannot possibly" remain with the European single market, as it would mean "not leaving at all".

However, May said she would push for the "greatest possible" access to the single market following the country's exit from the Union.

Do you need to buy or sell dollars?


If you have a requirement to buy or sell dollars in the weeks or months and are worried about the impact Brexit negotiations will have on your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange, not only can I help you get the best possible exchange rate, I can also look to help you with the timing of your transfer to help you maximise the return.

As you know the currency markets are impossible to predict and can change in the blink of an eye, but by having an expert on your side you could potentially make or save you thousands of pounds.
I have a range of tools at my disposal, all designed to protect you against adverse market movements and help you budget efficiently. For more information about the range of tools available or to find out what rate of exchange I can offer, use the link below to complete the contact form.

Click here to complete the contact form.

 

Monday, 16 January 2017

GBP/USD exchange rate close to its lowest level for thirty-two years.

Today has seen the GBP/USD cross fall below $1.20 for the first time since Octobers flash crash, adding to the losses we witnessed last week.

 

Looking for the best GBP/USD exchange rates? Click here


The move this morning means the pound has now lost around six per cent against the U.S. dollar since the beginning of December, and leaves the currency pair within touching distance of the lowest levels we have witnessed for nearly thirty-two years.

 

GBP/USD graph


 

Why has the pound fallen again?


The pounds value has been hit as concerns continue to mount ahead of Prime Minster Theresa Mays speech tomorrow. It is widely expected that May announce the UK is heading towards a "hard Brexit", which will see Britain give up its access to the single market.

Giving up access to the single market is a major concern for investors, as it could damage the immediate future of the UK economy, and those fears will have increased after Finance Minister Phillip Hammonds comments over the weekend.

In an interview with a German newspaper Hammond said "If we have no access to the European market, and Britain were to leave the European Union without an agreement on market access, then we could suffer from economic damage at least in the short term,"

 

Do you need to buy or sell dollars?


As a specialist in currency exchange, not only can I help you get the best possible exchange rate, I can also look to help you with the timing of your transfer to help you maximise the return.
As you know the currency markets are impossible to predict and can change in the blink of an eye, but by having an expert on your side you could potentially make or save you thousands of pounds.
I have a range of tools at my disposal, all designed to protect you against adverse market movements and help you budget efficiently. For more information about the range of tools available or to find out what rate of exchange I can offer, use the link below to complete the contact form for a free, no-obligation currency consultation.

 

Click here to complete the contact form.




Friday, 13 January 2017

GBP/USD exchange rate falls again

Since my post yesterday the pound has been falling across the board, giving up most of the ground it made against the dollar during Thursday's trading session.

For the best GBP/USD exchange rates click here.


After climbing to almost $1.23 yesterday afternoon, the GBP/USD cross now finds itself trading just above $1.21, after talk of a "hard Brexit" has once again hurt the value of the pound.

GBP/USD graph



Why has the pound fallen?


The pound started to slip after a spokesperson announced that Prime Minister Theresa May will deliver a speech next week, which will set out her plans for Britain leaving the European Union.

Following her comments last Sunday, investors are expecting May to push ahead with a hard approach to negotiations, which could see her give up the UK's access to the single market in order to focus on immigration controls.

What can we expect over the next couple of months?


I think the one thing we can be certain of over the next few months is uncertainty. We have seen a two per cent swing in the value of the GBP/USD cross this week and I expect we will continue to see the currency pair move in a similar fashion until negotiations have finished.

If you are looking to buy or sell dollars in the weeks and want to make sure are making the most from your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange I have a range of tools at my disposal to help protect you against adverse market movements or target a rate of exchange that might not be currently available.

For more information about how I can help or to find out what rate of exchange I can offer, complete the contact form by click on the link below.

Click here to complete the contact form.