Today has seen the pound rise against the U.S. dollar, with the GBP/USD cross pushing towards $1.25 and leaving the currency pair at its highest level since 15th December.
For the best GBP/USD exchange rates click here.
Since yesterday evening the pound a risen over one per cent against the dollar, mainly down to investors moving away from the greenback as they wait to hear details about President Trump's policies.
GBP/USD graph
With markets unsure about the impact Trump's administration will have on the U.S. economy, the dollar may struggle to hold onto the gains it has made over the past couple of months.
The dollar's value has surged since Trump won the election, as he promised to boost growth by cutting taxes and increasing fiscal spending. However, the President is now seems to be concentrating on renegotiating existing trade agreements and withdrawing from the Trans-Pacific Partnership (TPP) altogether.
Coupled with his on-going war with the media, investors and traders are now bracing themselves for a rocky few months, and could result in the dollar losing even more ground.
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As a specialist in currency exchange I have a 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.
