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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