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.

 

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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.