Federal Reserve announcement has huge impact on GBP/USD exchange rates.

Good morning,

The past twenty four hours have been extremely volatile for GBP/USD exchange rates, with the currency pair moving within a near four cent range. Yesterday evenings statement from the U.S. Federal Reserve caused chaos on the currency markets and have shown once again just how unpredictable things can be.

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At 4pm yesterday the GBP/USD cross was sitting around $1.4650 but following the announcement by FED Chair Janet Yellen, exchange rates climbed to briefly break the $1.51 barrier before slipping back to $1.48 at the start of today's session.

To put the move into monetary terms, converting £200,000 would have seen a difference of around $8,500 between the high and the low of yesterday's session and underlines just how important it is to get the timing right on your transfer.

What did the FED say?

During yesterday's statement the Federal Reserve changed its stance on interest rates following their two day meeting. Interest rates in the U.S. have been at 0% since the 2008 financial crisis and there had been suggestions that Mrs Yellen could give an indication as to when the central bank will raise the bench mark level.... that didn't happen!

They FED did remove the word "patience" from their statement, the key word that has been used in recent months as an indication the bank would not be raising rates in the foreseeable future. However, Mrs Yellen went on to say the central bank would not be "impatient" and that "further improvement" was needed in the labor market before raising interest rates.

So why did this weaken the dollar?

Some investors had been hoping for a rate rise as early as June and it seems this had been priced into the market. With the FED holding off for the time being, the value of the dollar has been corrected and allowed the pound to claw back some of the ground it has lost over the past couple of weeks.

Get in touch

With Sterling set for a volatile few weeks in the run up to UK elections it is important to know what options you have in order to make the most from your transfer. As a specialist currency broker I have a number of contract options available to help protect you against adverse market movements or target a rate that might not be currently available.

For more information on the different ways to purchase your currency 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.

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GBP/USD exchange rates fall over a cent

Good afternoon,

Sterling suffered against the dollar during today's trading session as a number of positive U.S. economic numbers helped strengthen the greenback. GBP/USD exchange rates fell over a cent from $1.5367 to $1.5257, which means the pound has now lost nearly 2% since last Thursday.

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Good news for the U.S. economy

The dollar received a boost this afternoon as Final Services PMI and Non-Manufacturing PMI numbers both beat expectations and coupled with this morning's UK Services sector numbers falling short of the predicted level, the dollar was able to make gains across the board.

EUR/USD and fresh 10 year low

Today's positive ecostats from the U.S. and the uncertainty surrounding the Eurozone left the EUR/USD at a fresh 10 year low today, The currency pair fell from 1.1180 to a low of 1.1064 this afternoon and with the U.S. leading the race to raise interest rates and the possibility of Greece leaving the Eurozone some forecasts are suggesting we could see EUR/USD exchange rates at parity by the end of 2015.

Protect yourself and make the most of your transfer.

If you have a requirement to buy or sell dollars in the next six months it is important to know what tools are available to help you make the most from your transfer. As a specialist currency broker I can secure rates for up to two years into the future, target a rate that might not be currently available or reduce your exposure to the ever changing FX market.

For more information on different types of market orders or to find out what rate of exchange I can offer, use the link below and complete the contact form for a free no-obligation consultation.

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GBP/USD exchange rate update

Good afternoon,




After losing over one per cent against the dollar last week the pound received a boost during todays trading session after UK construction PMI figures beat expectations. The positive construction figures (which showed the sector had grown at its fastest pace in four months) helped push GBP/USD exchange rates back towards $1.54 after falling from $1.5553 last Thursday.




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Over the past month the pound has been one of the strongest performing currencies, with expectations of an interest rate rise in the next year helping to boost sterling's value. However, with the UK election just around the corner, the political uncertainty could cause sterling crosses to fluctuate over the next couple of months......just look at impact the Scottish referendum had on the currency markets.




Since the turn of the year we have seen a 4% swing for GBP/USD exchange rates which highlights just how unpredictable the currency markets can be, 4% might not sound like much but when converting large amounts it can make a huge difference. Put into monetary terms a £200,000 transfer would have seen a difference of nearly $12,000 between the highs and lows of the last few months and shows just how important timing can be when moving money overseas.




To find out more about how I can help with the timing of your transfer or for a live rate of exchange, use the link below to complete the contact form for a free, no-obligation consultation. Alternatively call me directly on 0044 (0) 1442 892 065.




Click here to complete the contact form.