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GBP/USD graph
Will the dollar continue to strengthen?
Potentially yes....Now that markets have had a chance to reflect on yesterday's election outcome, some forecasts are now suggesting the dollar will continue to strengthen over the next few months.
The dollar's value could increase because of a number of factors, rising inflation and a higher return on investments being one, while we have to remember that during uncertain time's traders and investors view the dollar as a safe-haven currency.
The dollar could also receive a boost if the U.S. Federal Reserve raise interest rates at their next meeting on the 14th December.
However, there are still concerns over the long term impact Trumps victory will have on the U.S. economy. Fears over some of Trumps policies could actually be a good thing for the pound, as it takes some of the focus away from the UK and its exit from the European Union.
The UK's vote to leave the EU has seen the pound decline across the board, and as it stands sterling is down around seventeen per cent against the dollar since June.
If markets take the view that Britain's exit is the start of global shift towards more right wing voting, then we could see the pound start to claw back some of the ground it has lost against it counterparts over the last five months.
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.
