Looking towards the next few weeks, the question on
everyone’s lips is will the pound continue its run of good form and maintain
its momentum against the other major currencies? Sterling has moved a long way
in the last week which is unusual considering the recent uncertainty surrounding
the UK economy, interest rates and of course the Scottish referendum, which I’m
sure everybody is fed up of hearing about!
Since the start of July the GBP/USD cross has dropped from
$1.72 to below $1.61, a fall of 6.5%. Over the past few days Sterling/dollar
seems to have stabilised with exchange rates sitting between $1.64 and $1.63,
however, with all the turmoil in the Middle East and the U.S military carrying
out new strikes in Syria and Iraq, investors could be tempted to seek the
safety of the U.S dollar which in turn could see GBP/USD exchange rates fall
below $1.60.
Last week also saw the Federal Reserve announce another cut
to their stimulus package which now stands at $15 billion and it looks as
though the programme will be completely wound up by the end of October. This
could potentially give the dollar another boost as focus turns to when the Fed
will raise their own benchmark rate.
If you are looking to buy or sell dollars in the coming
weeks or months it is important to know what tools are available to help make
the most of your transfer. As a specialist currency broker I have a range of
currency contracts at my disposal which can help remove the risk element to the
ever changing FX markets. For more information on the types of contract or to
find out what rate of exchange I can offer, use the link below to complete the
contact form or call me directly on 0044 (0) 1442 892 065.
To complete the contact form click here.
