GBP/USD exhange rate remains flat

Since my last post the GBP/USD exchange has remained relatively flat, with the currency pair still trading in the $1.23's.

 

For the best GBP/USD exchange rate click here.

Over the past twenty-four hours the pound has been trading between $1.2320 and $1.2390, as you can see from the graph below.

GBP/USD graph

Thin pre-Christmas trade and the lack of any major economic announcements, the trend we have witnessed over the past couple of sessions looks likely to continue for the rest of the week.

With little to report I thought I would take the opportunity to remind you of the different ways you can purchase you currency.

Ways to buy currency

The Spot Contract is the quickest, easiest and most popular way to buy currency. You simply buy or sell one currency in exchange for another, whenever you need it. You have two days to send us the money and as soon as your funds are cleared, we will forward the currency to the account of your choice.     

The Forward Contract can help you take advantage of current exchange rates. You can fix the price now for a transaction that will take place up to two years in the future. You secure the Forward Contract with a deposit of 10% of the total value of your transaction (you'll need to pay this within two working days of agreeing the contract) and then pay the balance before the contract expires. Once secured the agreed exchange rate will apply for the duration of the contract.              

With a Limit Order you specify the exchange rate you are hoping to achieve, a price that may not be currently available. Your currency will automatically be purchased if the market exceeds this level and you'll get the rate you wanted. This type of contract is particularly useful when the markets are moving in a positive direction for you.          

A Stop Loss Order will instruct your broker to buy if the currency goes down to a pre-determined level. When combined with a Limit Order you can hold out for a better exchange rate and still protect yourself from a sudden fall in the market.

Do you need to buy or sell dollars?

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

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.

GBP/USD exchange rates hold around $1.23

The GBP/USD exchange rate has been sitting in the $1.23's for the past twenty-fours hours, with the currency pair bouncing between $1.2320 and $1.2380.

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

Although this morning's UK Public Sector Net Borrowing figures confirmed that government borrowing had fallen last month to £12.6 billion, the reading published by the Office for National Statistics did little to impact the value of the pound.

Why is the pound falling?

The last week has seen the pound lose around three per cent against the dollar, with the exchange rate dropping from $1.2725 to its current level of $1.2360.

GBP/USD one week graph

This has been largely down to the Federal Reserve (Fed) increasing interest rates last week, and announcing a possible three additional rate hikes next year. Markets had only been anticipating two hikes in 2017, so the Feds decision to announce of three has seen the dollar rise across the board.

Sterling has also been effected by continued talk of Brexit, with traders and investors still concerned about the long term economic impact and what type of approach Prime Minister Theresa May will take when negotiations finally get underway.

 

Will the pound rise next year?

At the moment I think it will be difficult for the pound to make any serious ground against the dollar while the uncertainty of Brexit is still hanging over the UK.

If the government opt for a softer approach to negotiations and the Supreme Court rule that parliament must have say in the exit strategy, then we could see some confidence return to the pound. However, a "Hard Brexit" could easily see investors start selling off the pound, which in turn could see the GBP/USD cross test the $1.20 levels we witnessed at the start of October.

Do you need to buy or sell dollars?

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

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.

GBP/USD exchange rate still losing ground

The GBP/USD cross has edged lower this morning as the uncertainty over the UK's exit from the European Union continues to weigh down the value of the pound.

For the best GBP/USD exchange rate click here.

After dropping over one per cent during yesterday's trading session, the pound has dipped again and has left GBP/USD trading at $1.2350 at the time of writing.

GBP/USD two day chart

This afternoon could see the pound come under even more pressure as markets wait to hear from Prime Minister Theresa May and Scottish First Minister Nicola Sturgeon.

With May set to face questions by a parliamentary committee at 2pm (GMT) and Sturgeon set to lay out her plans for Scotland to maintain ties with the EU after Brexit, traders and investors will be listening closely for clues on how the government plan to tackle negotiations with their European counterparts.

If May hints at a harder approach towards leaving the EU, then it is likely we will see the pound lose ground across the board and could push GBP/USD back into the $1.22's for the first time since 2nd November.

Do you need to buy or sell dollars?

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

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.

GBP/USD exchange rate falls to one month low.

Today has seen the GBP/USD exchange rate fall one per cent, as Brexit once again hit the headlines and caused the pound to fall across the board.

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

After opening this morning's London session at $1.25, the pound slipped to a one month low of $1.2375 against the dollar, as uncertainty mounted over how the UK will assist businesses during the country's exit from the European Union.

GBP/USD graph

Speaking on Sunday, Trade minister Liam Fox hinted that the UK will probably need a transitional agreement in order to help firms during negotiations with the Union. However he did state Britain should avoid buying back into many of the EU's regulations.

Investors also seem to have reacted to a report published by the Financial Times yesterday, which mentioned that the EU negotiators are insisting the UK agree to its divorce settlement before any deal is offered by Brussels.

What next for GBP/USD?

The move we have witnessed today means the GBP/USD cross has now fallen nearly three per cent since Wednesday evening, which in monetary terms means converting £300,000 into dollars now returns around $11,500 less than it did last week.

With the pound likely to come under even more pressure in the coming weeks we could see things get even worse for the GBP/USD cross.

The Supreme Court ruling and the UK Government triggering Article 50, are both likely to add to the pounds woes as uncertainty increases, and I wouldn't be surprised to see GBP/USD test the $1.20 before too long.

Do you need to buy or sell dollars?

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

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.

 

GBP/USD exchange rate morning update

After all of the excitement of the Federal Reserve raising interest rates on Wednesday and the U.S dollar surging throughout yesterday, this morning has been a lot quieter, with the GBP/USD cross trading within a 30 pip range.

Would you like to know what exchange rate I can offer? Click here.

So far this morning GBP/USD has been bouncing between $1.2420 and $1.2450 and with little economic data due out today, we could see the currency pair continue on its current path.

 

GBP/USD morning chart.

At one point yesterday the GBP/USD cross was down almost three per cent from Wednesday mornings week high of $1.2725, reaching a low $1.2379. Despite the pound clawing back a small amount of ground this morning, the move we have witnessed over the course of this week has made a huge amount of difference to any potential transfer.

If we look at the move in monetary terms, converting £300,000 into dollars today will see you receive around $9,000 less compared to the same trade on Wednesday morning. The move once again highlights how quickly things can change in the currency market and proves how important it is to have a specialist currency broker like myself on your side.

As well as being able to achieve you a better rate than those offered by the high-street banks or other financial institutions, I can also help you with the timing of your transfer or protect you against adverse market movements.

 

Are you thinking of buying or selling dollars?

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

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.

GBP/USD falls after Federal Reserve rate hike

The GBP/USD cross has fallen over 1.5 per cent since yesterday evening after the U.S. Federal Reserve announced an increase to its benchmark interest rate of 25 basis points.

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

Although the hike was largely priced into the market, it didn't stop the U.S. dollar gaining across the board last night, with the GBP/USD dipping from $1.2725 to $1.2520 this morning.

GBP/USD graph.

The dollar was also helped by comments from Fed Chair Janet Yellen, after she hinted the U.S. central bank could look at multiple rate hikes in 2017.

The announcement that interest rates were likely to rise another three times next year came as welcome news to investors, and immediately saw an increase in flows to the U.S, helping to drive up the value of the dollar.

Yesterday's Fed meeting was their first since Donald Trump won the U.S. presidential election, and with markets anticipating him to boost the U.S. economy by cutting taxes, deregulation and spending the Fed have decided now is the time to take some action.

Are you thinking of buying or selling dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

GBP/USD exchange rate falls despite postive job numbers.

After starting the day trading around $1.2650, the pound received a small boost this morning after figures confirmed the UK's jobless rate had fallen yet again.

For the best GBP/USD exchange rate click here.

The news allowed the GBP/USD cross to climb to $1.2682, however the gains have been short-lived as markets await the result the Federal Reserve announcement this evening, and at the time of writing GBP/USD is trading back $1.2630.

GBP/USD graph

Unemployment still falling.

Figures produced by the Office for National Statistics this morning confirmed that UK unemployment had dropped by 16,000 to 1.62 million for the three months to October, while the unemployment rate remained unchanged at 4.8 per cent.

Average earnings, which excludes bonuses increased by 2.6 per cent in the year to October, beating forecasts and is slightly higher than last month's reading.

This morning's news is another positive for the UK economy, although it is widely anticipated the unemployment rate will increase next year as British companies will hold off from hiring while the uncertainty of Brexit hangs over the country.

 

Federal Reserve set for hike.

This evening will see the Federal Reserve announce its latest interest rate decision, with investors banking on Janet Yellen & Co raising the benchmark rate for the first time since December 2015.

With markets pricing in a 100 per cent change of a rate hike this evening, all eyes and ears will be on the announcement and the subsequent FOMC statement for clues about future hikes through 2017.

When the Fed raised rates last year they said there would be another four hikes throughout 2016, those hikes never materialised and I don't think Fed Chair Yellen will want to make the same promises this time round.

If Yellen takes a dovish stance about the Feds actions for next year we could see the dollar weaken, which in turn will push GBP/USD up. However, if she does announces plans for multiple rate rises in the New Year we could see the dollar strengthen across the board, forcing GBP/USD down in the process.

Are you thinking of buying or selling dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

To complete the contact form click here.

GBP/USD exchange rate breaks $1.27 again.

This morning saw the GBP/USD exchange rate climb back over $1.27, hitting a high of $1.2722 just before 10am (GMT).

For the best GBP/USD exchange rate click here.

The move so far today means the currency pair has now risen over one per cent since yesterday morning, and with the Federal Reserve interest rate decision due tomorrow, it will be interesting to see if the pound can hold onto the gains.

GBP/USD graph

 

Why has the GBP/USD cross risen?

The pound has been edging up against the U.S. dollar today after Chancellor Phillip Hammond stated last night that he supported the idea of a staggered transition period for the UK's exit from the European Union.

As well as backing the staggered approach he also mentioned the remaining EU countries would benefit from Britain's gradual withdrawal, raising investor's hopes the government will opt for a "soft Brexit" in order to maintain the UK's access to the single market.

What will the Federal Reserve do?

Much of the focus will be on the Federal Reserve and Chair Janet Yellen over the next couple of days. As I have mentioned before, the Fed are set to announce their latest interest rate decision tomorrow evening, and although the markets rate the chances of a rate hike at 100%, I still think we could see some movement for dollar crosses tomorrow.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

Pound edging higher against the dollar.

The pound has edged up against the dollar this morning, with the GBP/USD cross rising from $1.2568 to its current level of $1.2612, putting a temporary stop to the decline we witnessed last week.

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

Friday saw the pound end last week around 1.5 per cent down against the dollar, with the currency pair falling from $1.2761 to $1.2572, sterling's worst performance for nearly a month.

GBP/USD graph

Busy week for the central banks.

This week could be another volatile one for the pound and dollar, with key announcements coming the Federal Reserve and the Bank of England.

On Wednesday the Federal Reserve will deliver its latest interest rate decision and although the markets have already priced in a rate hike from the Fed, we could easily see some movement in the value of dollar if Chair Janet Yellen decides to take some action.

With the Bank of England likely to loosen monetary policy next year to help boost the UK economy, and the European Central Bank extending their stimulus programme last week, I wouldn't be surprised to see the dollar rise as investors opt for the safety of the greenback and a higher return on their investments.

Investors will also be keeping a close eye on the Bank of England meeting on Thursday. Although the BoE are unlikely to make any changes to its benchmark interest or its quantitative easing programme, we could see some movement for sterling crosses as markets digest Governor Carney's comments about the future of the UK economy.

 

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

Why has the U.S. dollar strengthened?

The dollar has been gaining across the board since my post yesterday morning, after the European Central Bank (ECB) announced they will be extending their stimulus programme through to December 2017.

Do you want the best GBP/USD exchange rate? Click here 

On the back of the announcement investors have been flocking back to the safety of the U.S. dollar and as a result the GBP/USD cross fell over 1.2 per cent yesterday afternoon, with the currency pair dropping from $1.2701 to $1.2551.

GBP/USD graph.

However, the GBP/USD cross has rebounded slightly this morning after figures confirmed the UK's trade deficit narrowed more than expected for the month of October. The better than expected reading has helped GBP/USD rise back above $1.26 and at the time of writing is trading at $1.2610.

Focus on the Federal Reserve.

Next week will see the U.S. Federal Reserve announce their latest interest rate decision, with markets anticipating a rate hike for the first time since December 2015.

Although many believe the rate hike has already been priced into the price of the dollar, I personally believe that if Janet Yellen increases the central banks benchmark rate we will see the dollar gain against its counterparts on Wednesday evening.

With the uncertainty of the UK's exit from the European Union and the economic issues surrounding the Eurozone, investors will jump at the chance of a higher return and I can easily see GBP/USD losing another one or two per cent on the back of the news.

If that were to happen the GBP/USD cross could be trading back in the $1.23's by the middle of next week.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

GBP/USD exchange rate climbing again.

The pound has started to recover some of the ground it lost against the dollar, with the GBP/USD cross rising around a cent since yesterday afternoon.

 

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

Sterling dropped across the board yesterday after parliament agreed to keep to Theresa May's Brexit timetable and weaker than forecast UK industrial production figures. However, after falling back to $1.2572 the GBP/USD cross is in touching distance of breaking the $1.27 barrier once again, with the pair currently trading at $1.2690.

GBP/USD graph.

Despite losing ground yesterday, the pound is still around 4.5 per cent up against the dollar since the beginning of November. With the Supreme Court ruling set for the start of 2017 and the UK government still to trigger Article 50, I am sure the pound will come back under pressure before to long, and could easily see sterling give up the gains it has made over the past six weeks.

Looking at the gains in monetary terms, converting £300,000 today will see you receive around $16,000 more compared to the same trade on the 1st November, and in my opinion represents an excellent opportunity for those of you looking at purchasing dollars in the next few weeks.

How can I take advantage of the recent gains?

You can secure a rate of exchange today for a transaction that will take place up to two years into the future by using a forward contract.

A forward contract is a great way of protecting yourself against adverse market movements and is extremely useful for managing your budget. It allows you to secure the exact value of the currency to be paid, removing the uncertainty of the currency markets.

You can secure the forward contract exchange rate with a margin payment of 10% of the total value to your transaction, and then pay the remaining 90% at anytime before the contract expires.

For more information on forward contracts click here.

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

Why is the pound dropping against the U.S. dollar?

The pound has taken a hit over the past twenty-four hours with the GBP/USD exchange rate falling nearly two cents since my post yesterday morning.

Looking for the best GBP/USD exchange rate?

In my last post I mentioned the pound was sitting at a fresh two month high against the dollar, hitting $1.2771. However, as we all know the currency markets can change in a blink of eye, and this morning the GBP/USD cross has fallen back below $1.26 and is currently trading at $1.2588.

GBP/USD graph

Why is the pound falling?

After climbing steadily over the past few weeks, the pounds value has dropped after talk of Brexit once again hit the headlines.

The pound started losing ground yesterday afternoon as news broke the UK government had requested that parliament respect their timetable for leaving the European union, reducing investors' expectations that the UK's exit from the bloc could be delayed.

The government announced they had accepted a call from the Labour party to outline their exit plan before official negotiations get underway, although did state that parliament will need to get behind Theresa May's plan to trigger Article 50 early next year, and also accept the result the referendum held back in June.

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

The pound is still rising against the U.S. dollar

The pound has continued to climb against the dollar over the past couple of days, adding to the gains we witnessed at the back end of last week.

Want the best GBP/USD exchange rate? Click here.

This morning saw the GBP/USD cross rise to a fresh two month high, with the currency pair hitting $1.2771, a level we have not seen since the beginning of October.

GBP/USD graph.

Why is the pound rising against the dollar?

With little data coming out to support either currency, the reason behind the move can only be put down to investor confidence.

Over the past few months the dollar has gained massively because of its status as a safe-haven currency, and on expectations the Federal Reserve will raise interest rates before the end of the year.

The UK's exit from the European Union and the Eurozone's long term economic future have all played a major part in the dollar's rise. However, with the UK economy still exceeding expectations, and the chances of a hard Brexit beginning to fade, traders and investors are beginning to move back towards riskier assets such as the pound and euro.

There was evidence of this yesterday following the result of the Italian constitutional referendum, which was held on Sunday. Despite Prime Minister Matteo Renzi losing the vote and the prospect of an early election in 2017, many analysts and investors are taking the view a temporary government will be put in place until the official election in 2018.

Since the Italian referendum result the dollar has lost over one per against the pound and over two per cent against the euro. With rumours a rate hike from the Federal Reserve is already priced into the market, there could be further scope for the GBP/USD cross to rise even higher over the next couple of weeks.

 

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

GBP/USD exchange rate continues to rise.

The pound benefitted from yesterday's Italian referendum with the GBP/USD cross rising to a high of $1.2738 this morning, the first time the currency pair has broken the $1.27 barrier since the 6th October.

With investors focusing on the troubles and uncertainty over in the Eurozone rather than the UK's exit from the European Union, the pound has been unable to take full advantage, climbing around five per cent against the dollar since the beginning of November.

For the best GBP/USD exchange rate click here.

If we look at the move in monetary terms, purchasing $300,000 this morning now costs over £11,000 less than it did five weeks ago, and represents an excellent opportunity for those of you looking to buy dollars in the coming weeks.

GBP/USD graph.

Should I wait to see if the pound climbs even further?

Waiting and hoping the rate improves can be a dangerous game to play, especially when you consider what is just around the corner.

Next week the U.S. Federal Reserve will announce their latest interest rate decision and at the moment it looks very likely the FOMC will hike rates for the first time since December 2015. Many with in market are expecting an increase and a rise has probably been largely priced into the value of the dollar already.

However, if Fed Chair Janet Yellen confirms a rate hike next Wednesday, I still think the dollar will benefit and we could easily see a per cent or so wiped off the value of the GBP/USD cross.

We also have to remember the UK government still need to trigger Article 50 to begin official divorce proceedings with the EU. Although Brexit talk has taken a back seat over the past few weeks I have no doubts the pound will come back under pressure when talks get underway.

 

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

GBP/USD exchange rate still above $1.26

The pound has lost around a cent against the dollar since yesterday afternoon, however the GBP/USD cross is still holding above $1.26 this morning.

To find out what GBP/USD exchange rate I can offer, click here.

Sterling rose across the board following comments from Britain's Brexit Minister David Davis yesterday morning, as investors concerns faded over the UK government pushing ahead with a hard Brexit.

As I mentioned in my last post, Davis stated the government could be willing to continue making contributions to the EU in order to keep the UK's access to the single market, and the news helped the pound reach a two month high against the dollar of $1.2694.

GBP/USD graph

Will the GBP/USD exchange rate keep on rising?

A lot will depend on what happens it Italy over the weekend. On Sunday the Italians will be voting on Prime Minister Matteo Renzi's list of reforms and the result could have an impact on the value of the pound and U.S. dollar.

The referendum is a chance to change the Constitution of Italy, which if successful will hand more power to Renzi and allow him to bring more stability to the country's flagging economy.

A YES vote would bring a wave of reforms and is likely to increase confidence in Italy and the Eurozone, if that happens investors could move away from the safety of the dollar, which in turn could push GBP/USD higher.

However, a NO vote would lead to Renzi resigning and is likely to send shock waves around the financial markets. A NO vote will probably see dollar benefit as a result, and could lead to the pound giving up the gains it has made over the course of this week.

Jobs day.

This afternoon will see the U.S. announce their latest Non-farm Payroll job numbers. Regular readers will know the data can cause some big swings in the value of the dollar as the result can deviate massively from the predicted reading.

If you are looking a buying or selling dollars today, it is worth keeping an eye on jobs data, which will be released at 1330 GMT.

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

The pound hits eight week high against the dollar.

This morning has seen the GBP/USD exchange rate rise to its highest level since the 5th October, with the currency pair hitting a high of $1.2660.

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

The move means the pound has risen nearly two per cent against the dollar since yesterday afternoon, and will come as welcome news for those of you that are looking to buy dollars in the coming days.

GBP/USD graph

Why is the pound rising?

Sterling has been rising against all of the majors this morning after Secretary of State for Brexit David Davis, announced the government would consider making contributions to the European Union in order to keep the UK's access to the single markets.

Mr Davis stated that Britain could carry on paying the EU, it meant the country "getting the best deal".

His comments will come as a huge relief to investors and this has been highlighted in the pounds performance over the past couple of hours.

Investors have been selling off the pound since UK Prime Minister Theresa May announced she would look to give up access to the single market in order to focus on immigration controls.

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

GBP/USD exchange rate loses ground

This morning has seen the pounds value fall across the board, with the GBP/USD cross giving up the gains it made during yesterday's trading session.

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

After rising to $1.25004 during the first hour of the London session opening, the pound has been falling, leaving the currency pair trading in the low $1.24's at the time of writing.

GBP/USD graph.

What has caused the move?

At the moment is seems the result of the Bank of England's stress test and stability report has caused the pound to weaken.

During his stability report, Bank of England governor Mark Carney issued a warning over the current level of debts in Britain's households.

Carney stated that consumers were borrowing more than ever on unsecured debt and credit cards, with credit card lending hitting an all-time high, while unsecured debt is rising at its fastest level for eleven years.

The report also showed the overall household debt to income ratio had risen to 133% during the second quarter of this year.

 

Bad news for RBS

As I have already mentioned the result of Bank of England's stress test also seems to have impacted the value of the pound this morning. The tests are in place to ensure that UK banks have enough capital in place to cope with a global recession and a house price crash.

The BoE confirmed this morning that RBS failed its test, while Barclays and Standard Chartered also
missed some key requirements.

As a result RBS have been forced to find a way of increasing its balance sheet by two billion pounds, which is likely to come from cost cutting and selling assets.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

To complete the contact form click here.

Sterling rising against the U.S. dollar

This morning has seen the pound regain the ground it lost against the dollar yesterday, with the GBP/USD cross rising nearly one cent since the London trading session opened.

For the best GBP/USD exchange rate click here.

So far today the currency pair has climbed from $1.2406 to an intraday high of $1.2487 and we still have the U.S. to release some key eco-stats later this afternoon.

GBP/USD graph.

Why is the pound rising against the dollar?

The pound has been edging up across the board this morning after stronger than expected mortgage approvals, while lending to individuals increased at its fastest pace since 2005. The data has once again given the UK economy a boost and shows that consumer demand has not been dampened since the referendum result in June.

Some of the attention on the UK and Brexit has also shifted, as investors are now growing increasingly concerned about the Italian constitutional referendum on Sunday and the upcoming elections in France and Germany next year.

 

What could impact the GBP/USD cross today?

After a quiet few days in terms of data, today could bring some extra volatility for dollar crosses as the U.S. markets return to normality following last weeks Thanksgiving holiday.

This afternoon will see the U.S. release their latest CB consumer confidence figures, along with a Prelim GDP reading for quarter three. There are also speeches from Federal Reserve Officials William Dudley and Jerome Powell towards the end of the day. If either of them drop any clues about an interest rate hike next month then we could see some movement in the dollars value.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

 

GBP/USD falling after hitting $1.25 this morning.

This morning has seen the pound give up over a cent against the dollar, with sterling giving up all of the gains we have witnessed since last weeks Autumn statement.

For the best GBP/USD exchange rates click here.

Since the open of the London session the GBP/USD cross has slipped back from $1.2512 to $1.2391 as you can see from the graph below.

GBP/USD graph

Why is the pound falling?

With no data being released from the UK or the U.S today, the pounds decline looks to have stemmed from investors repositioning themselves ahead of European Central Bank President Mario Draghi's speech this afternoon.

Draghi is due to testify in front of the European Parliament's Economic Committee in Brussels at 1400 GMT today, and will discuss the ECB's perspective on monetary and economic developments, along with the consequences of UK's decision to leave the European Union.

With so much uncertainty still surrounding Britain's exit from the Union and concerns starting to mount ahead of the upcoming elections in Europe, it looks as though investors have moved away from the pound and euro this morning and headed back towards the safety of the U.S. dollar.

Depending on what Draghi says this afternoon we could easily see the pound regain the ground it has lost so far this morning, and if there are any major developments I will of course keep you updated.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

GBP/USD exchange rate holding firm

The GBP/USD cross has been holding around $1.2450 for the past twenty four hours. With most of America still enjoying the Thanksgiving holiday and little out in terms of data from the UK, I would imagine we are unlikely to see any major movements until the start of next week.

GBP/USD graph

The Office for National Statistics did publish its second GDP estimate for quarter three this morning, but with the reading coming in exactly as forecast at 0.5% it did very little to impact the value of the pound.

Do you want the best GBP/USD exchange rate? Click here.

With little to report on and not wanting to sound like a broken record, I thought I would take the opportunity to explain in a bit more detail the different ways you can purchase your currency to ensure you are making the most of your FX transfer.

Ways to buy currency

A Spot Contract is the quickest, easiest and most popular way to buy currency. You simply buy or sell one currency in exchange for another, whenever you need it. You have two days to send us the money and as soon as your funds are cleared, we will forward the currency to the account of your choice.          

A Forward Contract can help you take advantage of current exchange rates. You can fix the price now for a transaction that will take place up to two years in the future. You secure the Forward Contract with a deposit of 10% of the total value of your transaction (you'll need to pay this within two working days of agreeing the contract) and then pay the balance before the contract expires. Once secured the agreed exchange rate will apply for the duration of the contract.             
With a Limit Order you specify the exchange rate you are hoping to achieve, a price that may not be currently available. Your currency will automatically be purchased if the market exceeds this level and you'll get the rate you wanted. This type of contract is particularly useful when the markets are moving in a positive direction for you.           

A Stop Loss Order will instruct your broker to buy if the currency goes down to a pre-determined level. When combined with a Limit Order you can hold out for a better exchange rate and still protect yourself from a sudden fall in the market.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months 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 wide 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.

The pound closes in on $1.25 against the dollar

This morning has seen the pound rise almost a cent against the dollar, with the currency pair climbing from $1.2409 to $1.2494 over the past couple of hours.

To find out what exchange rate I can offer click here.

With the U.S. markets closed for Thanksgiving and no economic data being released from the UK today, the move this morning seems to be down to sterling strength, with investors and traders still taking the positives from yesterday's UK autumn budget statement.

GBP/USD graph

Why has the pound risen?

During his statement yesterday, Chancellor Phillip Hammond raised his forecasts for the government's borrowing to £122 billion over the next five years, but despite the increase markets have looked past the additional borrowing and instead focused on the Office for Budget Responsibility (OBR) growth forecasts.

The OBR stated the UK's exit from the European Union will have an impact on the economy, with lower business investment, migration and trade flows. However, their reduced growth revisions were far less than many had anticipated, with the OBR still expecting the UK economy to grow by 1.4 per cent in 2017 and 1.7 per cent in 2018.

 

Take advantage of the gains.

For those of you looking to purchase dollars it could be worth taking advantage of the gains we have witnessed over the last month or so. Since the middle of October the GBP/USD cross has risen nearly 3 per cent and it certainly makes a difference to your transfer.

Purchasing $300,000 today is around £7,000 cheaper than six weeks ago, and with the Federal Reserve likely to raise interest rates next month, I wouldn't be surprised to see some of the gains wiped away in the build up to the Fed meeting on the 14th December.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

Will the pound go up or down?

The GBP/USD cross had dipped back under $1.24 this morning as markets wait in anticipation for the governments autumn statement, which is due to be released at 12:30 GMT.

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

So far today the pound has lost nearly 0.3 per cent against the dollar, with the currency pair falling from $1.2406 to a low of $1.2370, as you can see from the graph below.

GBP/USD graph.

This morning's move means the GBP/USD cross has now fallen over one per cent since hitting a high of $1.2511 on Monday, which in monetary terms means purchasing $300,000 this morning now costs around £2,700 more than it did two days ago.

How could today's autumn statement impact the pound?

At the moment there seems to be a split amongst analysts as to whether the pound will be receive any kind of boost from Phillip Hammond's statement this afternoon.

The statement will give us an updated economic outlook, and will provide us with an insight to the government's budget for the year ahead, projected borrowing, and their objectives.

It will also include comments on the latest economic forecasts from the Office of Budget Responsibility (OBR). The OBR will provide forecasts for up to five years into the future but with Brexit looming these predictions could have an impact on the pounds value this afternoon.

If the growth forecasts are cut drastically as a result of the uncertainty the UK economy is currently facing, then we could see the pound suffer. However, if Mr Hammond announces the government are going to increase spending in an attempt to boost the economy, then it is possible the pound could claw back the ground it has lost over the past couple of days.

Are you looking to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

The pound holding onto yesterday's gains against the dollar.

The pound is holding around $1.2450 against the dollar this morning, with markets still taking stock of yesterday's surprise move which saw the GBP/USD cross climb over two cents during the London trading session.

Want the best GBP/USD exchange rate? Click here

GBP/USD graph

The spike we saw yesterday caught everyone off guard, and in my last post I mentioned the rise was a bit of a mystery as I could not find anything to support why the pound was climbing across the board.

It would now seem the pound and UK economy received a huge boost following some comments made by UK Prime Minister Theresa May.

What did Theresa May say?

Theresa May gave investors some much needed confidence as she vowed to address the growing concerns that the UK could fall of a "cliff edge" when it leaves the euro bloc, while also hinting at some kind of transitional deal.

Back in September May suggested she would pursue a "hard Brexit" which would see Britain give up its access to the single market. However, her comments yesterday lean towards a change in stance, with markets now hopeful of a softer and slower approach.

Why would a transitional agreement be better for the pound?

It would give the UK time to create a new trading agreement with the European Union, once the formal negotiations have been completed. It is likely Britain will still have some kind of access to the single market while a new agreement is established, and removes some of the uncertainty over the long term impact Brexit will have on the UK economy.

 

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 the impact Brexit could have on your transfer, contact me today for a free, no-obligation currency consultation.

As a specialist in currency exchange, I have a wide 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

Why is the pound climbing against the dollar?

In the last hour the pound has surged across the board, with the GBP/USD cross rising around a cent to briefly hit $1.25.

Want the best GBP/USD exchange rate?

Although the pair has moved slightly away from the session high, the currency pair is still trading at $1.2470, around a cent and a half higher than when markets opened this morning.

 

GBP/USD graph

Why has the pound risen?

So far its a bit of mystery, there has been no economic data releases or political announcements this afternoon. A few of the major banks have already come out and said there is no clear reason as to why the pound is currently climbing.

What does the move mean for you?

If you are looking at buying dollars then this afternoon's unexpected rise will come as welcome news. If we look at the gains in monetary terms, purchasing $300,000 now costs around £3000 less than it did at 0945 (GMT) this morning.

Buying or selling dollars?

The move over the course of today shows just how unpredictable the currency markets can be and how quickly things can change.

If you have a requirement to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

Sterling starting to give up gains against the U.S. dollar.

Friday saw the GBP/USD cross fall to its lowest levels for over two weeks, with the currency pair ending the week trading just above $1.23.

 

To find out what rate of exchange I can offer click here.

Very little has changed during the first few hours of this mornings session, although the pound has gained slightly to leave the GBP/USD cross sitting at $1.2339 at the time of writing.

 

GBP/USD graph.

Following Donald Trumps shock election victory the pound has been benefitting from a shift in focus as investors started to concentrate on the potential economic fallout in the U.S. and the upcoming elections across Europe.

The change in mentality saw the GBP/USD cross climb as high as $1.2638 on the 11th November, but since then the pound has been gradually giving up the gains, and has now lost around 2.5 per cent in the last ten days.

A large proportion of the loss happened towards the back end of last week as the U.S. dollar surged against the majority of its counterparts. A raft of positive economic data from the States last week added to expectations of a higher inflation reading and a second rate hike from the Federal Reserve when they conclude their two day meeting on the 14th December.

 

What will a rate hike in the U.S do to GBP/USD?

If the Federal Reserve take any action next month I imagine we will see the dollar strengthen across the board. An increase to the Fed's benchmark rate will give investors a higher return on their investments, so its likely we will see increased flows into the dollar shortly after the announcement.

It is difficult to say how much the dollar will increase by, but when the Fed raised interest rates last year the dollar gained over two per cent against the pound, so its possible we could see a similar move next month.

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

 

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U.S. dollar rises after Fed hint at rate hike

The GBP/USD cross has fallen away from the highs we witnessed yesterday morning, with the currency pair falling from $1.25 to its current level of $1.2404.

Want the best GBP/USD exchange rate? Click here.

As I mentioned in my last post, there were a number of key eco-stats and speeches coming from the U.S yesterday, and the results helped the dollar to strengthen across the board.

GBP/USD graph

Positive day for the U.S.

The latest Building Permit, Housing Starts and Unemployment Claims all beat expectations, while inflation in the U.S. came in as predicted and helped the dollar put an end to the pounds advances.

The dollar then received another boost as Federal Reserve Chair Janet Yellen testified in Washington. After almost a year of dovish comments, Ms Yellen finally hinted the Fed are likely to raise interest rates while speaking in front of the Economic Committee.

Although Yellen held back from saying the central bank will raise rates at their December policy meeting, she did confirm a rate hike was coming "relatively soon".

Judging by how the dollar had gained against its counterparts since yesterday afternoon, it would seem the markets are now starting to price in a rate hike on the 14th December. However, we shouldn't get too carried away, as we have seen this kind of reaction a couple of times over the course of this year.

Yellen's comment of "relatively soon" does not guarantee a rate hike next month, and if the Fed fail to take any action in December then we will probably see the dollar weaken significantly.

Do you need to buy or sell dollars?

If you have a requirement to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

Pound climbing towards $1.25

This morning has seen the pound receive a welcome boost, after the latest UK retail sales figures for October beat expectations.

For the best GBP/USD exchange rates click here.

The GBP/USD cross has risen over three quarters of a cent so far this morning, with the currency pair climbing from $1.2418 to $1.2498 as the graph below shows.

GBP/USD graph

Figures released by the Office for National Statistics at 0930 (GMT) showed last months retail sales had increased by 1.9%, against the predicted level of only 0.5% and the news has immediately caused the pound to rise across the board.

This mornings data release has once again shown the UK economy is performing better than expected in the wake of the country's decision to leave the European Union. If it were not for Brexit weighing down the pound, I am sure the GBP/USD cross would be sitting comfortably above $1.50 at the moment.

Busy day for the States

This afternoon sees a raft of key data releases and speeches coming from the U.S, and all of them could have an impact on the value of the dollar. We kick things off at 13:30 (GMT) with the release of the latest Building Permit, Consumer Price Index (CPI), Core CPI, Philly Fed Manufacturing Index, Unemployment claims and House Start numbers, and if the actual figures deviates from predicted levels we could see the GBP/USD cross experience some heightened volatility.

As I mentioned above there are also a couple of speeches today that investors will be following very closely. First up is Federal Open Market Committee member William Dudley, speaking at the Global Research Forum on International Macroeconomics and Finance in New York.

Last but not least is Fed Chair Janet Yellen. Ms Yellen is due to testify in front of the Joint Economic Committee in Washington. Her testimony is probably the most important event of the day as it is the first time we have heard from Yellen since Donald Trumps surprise election victory last week.

All eyes and ears will be on Chair Yellen as her statement could provide us with clues about whether the Federal Reserve raise interest rates next month.

I will of course keep you updates about how today's events unfold.

Looking to buy or sell dollars? 

If you have a requirement to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

What has happened to the GBP/USD exchange rate today?

The pound has remained relatively flat against the dollar this morning despite the UK unemployment rate falling to 4.8%, its lowest level since 2005.

Looking for the best GBP/USD exchange rate? click here.

Under normal circumstances the positive reading would have seen the pound strengthen across the board. However, with politics and the uncertainty of over the UK's exit from the European Union still concerning investors, the markets have barely reacted to yet another positive piece of UK economic data.

GBP/USD graph

GBP/USD holding above $1.24.

After dipping back into the $1.23's yesterday, on the back of the leaked memo and weaker inflation reading, the pound clawed back the lost ground after the UK government quickly moved to deny any knowledge of the document.

As we approached the open of the London trading session this morning, the GBP/USD cross was in touching distance of $1.25, but with traders focusing on the risks the UK economy faces with Brexit looming, the pound has edged away from this morning's high and is currently trading at $1.2450.

 

Will GBP/USD climb any higher today?

If it does, I think it's unlikely the move will be down to the pound strengthening. Although sterling has risen in value over the past week, any further gains will be limited due to Brexit uncertainty.

We could however see this afternoons U.S. data impact the value of the dollar. The release of the latest Crude Oil Inventories, Industrial Production figures (month on month) and Capacity Utilization Rate could easily see the dollar weaken if the numbers miss the predicted level, which in turn could see GBP/USD push back towards $1.25.

 

Do you need to buy or sell dollars?

If you are looking to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

Why is the pound falling?

This morning has seen the GBP/USD cross fall nearly a cent and we are only one hour into the London trading session. As it stands the pound is trading down at $1.2400 having opened this morning around $1.25, as the graph below shows.

Do you want the best GBP/USD exchange rate? click here.

GBP/USD graph.

What has happened?

Earlier this morning the BBC and Telegraph published a leaked memo, which suggested the UK government does not have an overall plan for Brexit.

The memo is said to be from an un-named consultant and was given the title "Brexit Update". The document suggests it will be another six months before the UK government decides on what they hope to achieve from leaving the European Union. The memo also touches on what it calls "divisions within the cabinet" over the direction of the upcoming Brexit negotiations.

As the news broke the pound lost ground across the board, with the GBP/USD cross slipping from $1.25 to $1.2439.

Things then got even worse for the pound as the latest inflation reading (CPI) has come in under the predicted level of 1.1%. Figures produced by the Office for National Statistics (ONS) showed inflation in the UK had dropped from 1.0% to 0.9% year on year, and reduces the chances of the Bank of England raising interest rates in the near future.

Do you need to buy or sell dollars?

If you are looking to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.

Why has the dollar strengthened?

This morning has seen the pound the give up some of the ground it made against the U.S. dollar, with the GBP/USD cross slipping around two cents from Friday's high.

To find out what GBP/USD rate I can offer, click here.

As you can see from the graph below the currency pair dropped back below $1.25 earlier today, hitting a low of $1.2466, after reaching a fresh week high of $1.2673 on Friday afternoon.

GBP/USD graph

Why has GBP/USD fallen?

The move is down to dollar strength. The dollar has been climbing against all of its counterparts this morning as markets have anticipated the U.S. economy will see a rise in inflation following Trumps shock win in last weeks election.

What next for the pound?

The pound finally seems to have found some support after months of uncertainty following Britain's decision to leave the European Union.

Many within the market now believe that Trumps presidency could boost the UK's hand when negotiations begin with its European counterparts over the country's exit from the Union.

Attention is also being diverted to the upcoming elections in Italy, France and Germany, so for the time being at least, we could see the pound build on the gains it has made against the dollar and euro over the past few weeks.

Do you need to buy or sell dollars?

If you are looking to buy or sell dollars in the weeks or months and want to ensure you 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 wide 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.