GBP/USD exchange rate recovers lost ground

Over the course of today we have seen a 0.65% swing for the GBP/USD cross. During the early hours of the Asian trading session the U.S. dollar started to gain across the board as investors positioned themselves ahead of President Trumps first major policy address in front of Congress on Tuesday.

For the best GBP/USD exchange rates click here.

Markets had hoped Trump would take the opportunity to provide some details of his proposed "tax reform" and fiscal spending, and as we approached the opening of the London session the GBP/USD fell back to $1.2388, the lowest we have seen the currency pair since the 7th February.

However, the dollar has been unable to hold on the gains that it made this morning and at the time of writing the pound/dollar exchange rate has risen back towards $1.2470, as you can see from the graph below.

GBP/USD

Despite Treasury Secretary Steven Mnuchin stating yesterday that Trump would use his speech to preview some of his plans, the dollar started to lose ground as investors became concerned that Trump might not provide the finer details of his economic plan. 

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.

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GBP/USD exchange rate update.

After climbing to a fresh one week high of $1.2569 this morning, the GBP/USD has dipped over the course of the afternoon with the currency pair now trading at $1.2488.

As you can see from the graph below the pound lost around half a cent against the U.S dollar within a couple of minutes. With no major data releases coming from the UK or U.S or any political announcements, it would seem the decline was sparked by investors profit taking ahead of the weekend.

For the best GBP/USD exchange rate click here.

However, despite the drop the GBP/USD cross is still on course to finish the week around a cent higher from Monday's open.

GBP/USD

Apart from this afternoon's dip there has been very little to report, so not wanting to sound like a broken record by talking about Brexit, Trump and the political uncertainty around Europe, I thought I would take the opportunity to explain the different ways you can purchase your 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 clicking on the link below.

Click here to complete the contact form.

GBP/USD exchange rate hits two week high

The GBP/USD cross rose to $1.2555 this afternoon, the highest we have seen the currency pair since the 9th February after the U.S. dollar lost ground against a basket of currencies.

For the best GBP/USD exchange rates click here.

After spending the majority of yesterday's trading session bouncing between $1.2470 and $1.2430 the pound has been able to take advantage of the weakening dollar, as you can see from the graph below.

GBP/USD graph

Why has the dollar weakened?

The dollar's value started to fall following the release of the Federal Reserve meeting minutes on Wednesday evening. Although the minutes stated a March interest rate hike is still on the cards, investors were left disappointed because of the lack of urgency shown from the voting members.

Markets had been hoping the minutes would provide a clear insight as to when the Federal Reserve would increase their benchmark rate and back up the recent hawkish comments from Fed Chair Janet Yellen. 

The dollar has also been hurt by the lack of progress from some President Trump proposed policies. Since his initial announcement, Trump has failed to provide any further information about his "phenomenal" tax reform, which has caused investors to hold back from heading into the U.S. dollar.

 

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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 ahead of Fed meeting minutes

Good afternoon,

After nudging over the $1.25 mark in the early hours of this morning, the GBP/USD has fallen around half a per cent to leave the currency pair trading back in the mid $1.24's.

 

For the best GBP/USD exchange rates click here

The dollar has been gaining momentum over the course of today as investors wait for this evenings release of the latest Federal Reserve meeting minutes, which should provide us with some clues over the pace of future interest rates, and the because of the growing political uncertainty in France.

GBP/USD graph

Several Fed officials have recently stated they could open to raising interest rates at the banks next meeting, which is set to take place on the 14th and 15th March.

Cleveland Fed President Loretta Mester and Philadelphia Fed President Patrick Harker have both hinted at a potential rate increase next month, with Mester saying she would be comfortable hiking rates as long as the U.S. economy continued on its current path.

If tonight's meeting minutes back up the recent hawkish comments we could see the dollar gain even more ground against its counterparts.

As I mentioned above the U.S. dollar has also been benefitting from the political unrest in France.
The latest opinion polls have shown that anti-EU candidate Marnie Le Pen has moved ahead of her rivals Francois Fillion and Emmanuel Macron in the build up to the first round of elections.

Are you looking to buy or sell dollars?  

 

If you are looking to buy or sell dollars in the weeks 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 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 clicking on the link below.

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Pound to U.S dollar exchange rate forecast

Good afternoon,

Over the course of this morning we saw the pound give up the ground it made against the U.S. dollar throughout yesterday's trading session, with the GBP/USD cross falling over three quarters of a cent from $1.2480 to $1.2402.

For the best GBP/USD exchange rate click here.

The pound fell against the dollar as markets braced themselves for the Bank of England inflation report hearing, with Governor Mark Carney and a number of the Monetary Policy Committee (MPC) testifying in front of the Treasury Select Committee.

However, the dip for Sterling has been short-lived, as this afternoon has seen the GBP/USD cross recover, rising back above $1.2470.

GBP/USD graph

Will GBP/USD go up or down?

It is a question I have been asked repeatedly over the last few months and a lot will depend on how markets react to Theresa May triggering Article 50.

I have been hearing from multiple sources in recent weeks that the pound will drop drastically the moment the government invoke Article 50 and begin official divorce proceedings. Forecasts have ranged from a five to ten per cent drop in the value of the pound, which would force GBP/USD to a fresh three decade low.

However, in my opinion I don't think the pound will lose that kind of ground. We have known for months the government plan to trigger Article 50 by the end of March, and we also know Theresa May plans to give up the UK's access to the single market and push ahead with a "hard" Brexit.

I believe both of these scenarios have already been priced into the market, and unless we get some breaking news I actually think Article 50 will be a bit of a non-event.

We also have to remember President Trump. His recent comments and tweets, along with some of his recent policies have cast a cloud of uncertainty over the U.S and could prevent the dollar making any serious gains, despite the prospect of additional interest rates rises from the Federal Reserve.

The next few months are certainly going to be interesting and I will of course keep you updated with any news and views that could impact the value of the GBP/USD cross.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.

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The pound rises against the dollar

The pound has gained over half a per cent against the U.S dollar over the course of the day, with the currency pair rising from $1.2410 to a high of $1.2480.

For the best GBP/USD exchange rates click here.

Sterling fell over 1.2 per cent against the dollar last week after a number of data releases suggested the UK economy is showing signs of slowing. Friday's retail figures showed that sales had unexpectedly fallen in January, with the Office for National Statistics confirming volumes had dropped by 0.3% last month, well under the 0.9% increase that had been predicted.

The retail figures followed a disappointing wage growth reading on Wednesday, and for the first time since the referendum result it looks as though we are starting to see the impact of Brexit.

GBP/USD chart.

However, despite its recent woes, the pound has regained some of the lost ground today as markets brace themselves for another week dominated by talk of Brexit.

The House of Lords are due to start debating the bill which will open the door for the government to trigger Article 50, and begin official talks for Britain to leave the European Union.

The opposition party are looking to make some amendments to the bill which will force the government to secure the rights of EU citizens currently living in the UK and provide regular updates about how the negotiations are progressing.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.

 

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GBP/USD exchange rate falls again.

The pound has slipped further against the dollar since my post yesterday morning, with the currency pair now trading at $1.2419.

For the best GBP/USD exchange rates click here.

Following yesterday morning's we weaker than forecast UK inflation reading, the GBP/USD cross fell further in the afternoon after Fed Chair Janet Yellen hinted at a possible rate hike at one of the Federal Reserve's upcoming policy meetings.

While testifying in front of the Senate Banking Committee, Chair Yellen stated that it could soon be "appropriate" for the bank to raise interest rates, and delaying an increase would be "unwise" because it could lead to the Federal Reserve having to move too quickly later on, and could push the U.S. economy into a recession.

GBP/USD graph

This morning's UK economic data has also added to the pounds woes, with figures showing wage growth dipped in quarter four of 2016. Average weekly earnings rose 2.6% but missed economists' predictions of 2.8% and caused the GBP/USD cross to fall around 0.4%.

With wage growth falling and inflation rising, it could become a worrying time for consumers. If inflation moves higher than wage growth over the next few months, it will mean people will be worse off and could also lead to the pound losing more ground against its counterparts.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.

 

UK inflation figure causes the pound to fall.

The GBP/USD cross climbed to $1.2547 in the early hours of this morning, as markets reacted to the news the President Trumps national security advisor had resigned following his dealings with Russia.

The dollar had also been edging lower as investors wait to hear from Fed Chair Janet Yellen this afternoon, when she testifies in front of the Senate Banking Committee for the Semi-annual Monetary Policy Report.

 

For the best GBP/USD exchange rate click here.

Markets will be listening for clues about the Fed's plans for future rate hikes. After stating the U.S. central bank will look to raise interest rates three times this year, there are concerns that Trumps policies could prevent the Fed from taking action as quickly as everyone had hoped, which if happens could start to see the dollar give up some ground.

However, the gains the pound made this morning have been completely wiped out following the release of the latest UK inflation reading.

 

GBP/USD chart

Figures released by the Office for National Statistics showed that inflation rose from 1.6% in December to 1.8% in January, but fell short of the expected 1.9%.

The news caused the pound to fall across the board, with the GBP/USD cross dropping over 0.5% to leave the currency pair trading at $1.2465, as the lower inflation number could prevent 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 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 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.

 

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Pound/dollar exchange rate back over $1.25

The pound has gained around half a per cent against the dollar since Friday's close, with the GBP/USD cross rising to $1.2534 this morning.

For the best GBP/USD exchange rates click here.

Following last week's excellent Manufacturing Production data, investors still seem to be in a confident mood, especially with the mounting uncertainty surrounding the political situation across Europe and the on-going talks with Greece and their creditors.

Investors are also keeping a close eye on the States and President Trump, last week Trump promised a ground breaking tax reform, but there are still concerns about his some of his policies and his determination to weaken the value of the U.S. dollar.

GBP/USD graph

What could impact the GBP/USD cross this week?

Markets will be monitoring the release of the UK's latest retail and inflation figures this week for further clues about how Britain's economy is holding up.

If this week's data continues to show the UK is growing it could give the pound a major boost. Economists had feared the worst after the referendum result in June, but despite the all the negativity the economy is still growing and in my opinion gives the pound a solid foundation as we approach the government triggering Article 50.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.

 

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Pound/dollar exchange rate falls a cent

This morning sees the pound trading around a cent lower against the U.S dollar, with the currency pair falling from yesterday's high of $1.2581 to $1.2484.

 

For the best GBP/USD exchange rate click here.

The pound has lost ground despite better than expected economic data from the UK. Figurers produced by the Office for National Statistics (ONS) showed Britain's manufacturing sector grew at a faster pace than had been predicted, with output rising 2.1% against the forecast level of 0.3%.

The data shows the UK economy is continuing to defy economists' predictions the country would suffer a downturn following June's Brexit vote, and there was further good news as a separate ONS release showed the UK's trade deficit had narrowed in December.

GBP/USD graph

 

Why has the GBP/USD cross fallen?

The drop is down to dollar strength rather than sterling weakness. The U.S. dollar has been falling since the turn of the year, as President Tump focused on existing trade policies, however that changed last night after Trump promised to announce a major tax reform within the next couple of weeks.

Trump stated he plans to introduce a "phenomenal" new tax plan, the most aggressive since the era of Reagan. His comments has helped calm investors' fears that have influenced that value of the dollar in recent weeks.  

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.

 

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Pound/dollar exchange rate still rising, currency pair hits fresh high.

Hello and good morning,

The pound has risen over half a per cent against the dollar since the London trading session opened, with the GBP/USD cross climbing from $1.2510 to $1.2581, a fresh one week high for the currency pair.

For the best GBP/USD exchange rate click here.

The move this morning adds to the gains we have witnessed over the course of this week, and means the pound has clawed back over 1.7 per cent against the dollar since Tuesday.

If we look at the rise in monetary terms, converting £300,000 into U.S. dollars this morning will now see you receive nearly $6400.00 more compared to the same trade on Tuesday morning.

GBP/USD 48 hour graph

Why has the pound risen?

The pounds value has increased across the board over the past couple of days, and it is mainly down to investor confidence. As I mentioned in my post yesterday morning, investors were quick to jump on the comments made by Kristen Forbes, a Monetary Policy Committee member at the Bank of England.

Forbes stated on Tuesday that the Bank of England might have to reverse Augusts interest rate cut if the UK economy remains solid and inflation continues to pick up.

Her comments have given investor confidence a huge boost and it would seem markets are focusing on the potential rate hike, rather than warnings about the impact Brexit could have on the UK economy.

The pound has continued to rise despite a BoE survey suggesting that employers plan to offer the least generous pay deals for five years and deputy governor Jon Cuncliffe saying that investment in UK businesses is likely to remain very weak in the short term.

GBP/USD forecast

The next few months are likely to bring a huge amount volatility for Sterling crosses especially as we get closer to the government triggering Article 50. I keep reading that as soon as Theresa May invokes Article 50 the pound is going to go into free-fall, however, I actually think we have already seen the pound hit rock bottom.

We have known for months that May plans to trigger Article 50 by the end of March, and we now know she will push ahead with a so called "Hard Brexit" and give up the UK's access to the single market.

I believe both of these scenarios have already been priced into the value of the pound and if the UK economy can stay on its current path then it lays a solid foundation for the pound to rise across the board.

When you take into account the uncertainty across Europe and President Trump trying to devalue the dollar, we could see GBP/USD push back towards the $1.30 mark in the not too distant future.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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 rises against the dollar. Exchange rate back over $1.25.

Good morning,

What a difference a day makes......After falling to a two week low of $1.2349 yesterday, the GBP/USD cross is now trading back over $1.25 with the currency pair hitting $1.2540 on Tuesday evening.

For the best GBP/USD exchange rates click here.

As you can see from the graph below, the pound/dollar exchange rate has risen over one per cent in the past twenty-four hours after investors were given some much needed confidence.

GBP/USD graph.

 

Why is the pound rising?

There were two announcements yesterday which helped boost the value of the pound. Kristen Forbes, a member of the Bank of England's Monetary Policy Committee, gave a speech yesterday afternoon and hinted that she is on the verge of voting for an interest rate hike.

Ms Forbes stated the robust performance of the UK economy since last year Brexit result had confirmed her hunch that Britain would see out the referendum better than many economists had predicted.

She was also quick to point out the risks of an inflation overshoot by saying "In my view, if the economy remains solid and the pickup in data continues, this could soon suggest an increase in the BoE benchmark rate".

Investors were also keen to take advantage of the mounting pressure on the UK government to give parliament a bigger say on the final deal to leave the EU.

Sterling jumped on comments made by junior Brexit Minister David Jones after he said that parliament would have a meaningful vote on any deal.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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 GBP/USD exchange rate falling?

Good morning,

The dollar has started to gain some momentum since my post yesterday afternoon and as a result the GBP/USD cross has continued to fall.

For the best GBP/USD exchange rates click here.

After dropping to a low of $1.2428 on Monday afternoon, pound recovered slightly last night with the GBP/USD exchange rate edging back towards $1.2475.

However, the chances of a recovery for the currency pair seem to have vanished, as investors have shifted their focus back towards the safety of the dollar, forcing sterling/dollar back into the mid $1.23's, the lowest we have seen since 20th January.

 

GBP/USD graph

 

Why has the dollar strengthened?

With concerns mounting amid the political uncertainty around Europe the dollar has been clawing back some of the ground it has lost since the start of 2017.

Investors are worried that Marine Le Pen's stock is rising ahead of France's presidential election, and that the upcoming elections across Germany and Holland could also have an impact on the future of the Eurozone.

Markets are also becoming nervous about the prospect of the European Central Bank reducing their monthly stimulus programme, and with Greece starting to hit the headlines again because of their on-going bailout package, we could start to see the euro come under even more pressure.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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 back into the $1.24's

Today has seen the pound give up more ground against the U.S dollar, with the GBP/USD cross falling to an intraday low of $1.2428.

For the best GBP/USD exchange rates click here.

The latest decline for the currency pair means the pound has now lost over 2.1 per cent against the greenback since Thursday, when the cross was trading close to $1.27 as talk of Britain's exit from the European Union continues to weigh heavily on sterling.

GBP/USD graph

The pound has weakened after reports emerged that UK Prime Minister Theresa May faced fresh challenges over her plans for removing Britain from the European Union.

Last week saw lawmakers vote in favour of May's plans, but there are now signs of dissent from within the Conservative Party which could force the bill to be amended.

Parliament are about to being a three day debate on the law giving Theresa May the right to Trigger Article 50, which will then be followed by a number of votes on whether to include extra conditions before her official talks begin.

Theresa May has already stated that parliament will be given the chance to accept the deal she reaches with the EU, but it now seems that MPs want to have more control.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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 again.

The pound slipped further against the U.S. dollar this morning after the latest UK Services PMI reading came in lower than forecast.

Click here for the best GBP/USD exchange rate. 

After falling around 1.5 per cent yesterday on the back of the latest Bank of England inflation report, the GBP/USD cross fell another 0.4 per cent following the Services figure and means the pound has given up all of the ground it has made over the course of this week.

GBP/USD graph

Figures released by Markit this morning showed growth in Britain's dominant service sector slowed in January, with the sector recording its first slowdown for four months. However, Markit were quick to state there was an increase in optimism over future prospects from within the sector, although firms reported that price pressures remained intense.

Jobs day.

 

Things could have got even worse for the GBP/USD cross this afternoon after the U.S. announced its latest Non-Farm Payroll jobs numbers.

Markets were expecting 170,000 jobs to have been created last month, but the actual reading smashed the predicted level, coming in at 227,000. Usually such a positive number would see the dollar strengthen, but on this occasion the greenback failed to make any ground as the Bureau of Labor Statistics confirmed the unemployment rate in the U.S. had increased from 4.7 per cent to 4.8 per cent, shortly after the Non-Farm Payroll figures were released.

 

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.

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The pound is still rising and breaks back above $1.26

Today has seen the pound add to the gains it made against the dollar during Tuesdays trading session, with the GBP/USD climbing back above $1.26 to hit an intraday high of $1.2659.

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

The move over the course of today means the pound has risen nearly two per cent since yesterday morning and leaves the currency pair within touching distance of its highest level since the 14th December.

GBP/USD graph

Why is the pound/dollar exchange rate rising?

Although the pound has stabilised in recent weeks, the driving force behind the GBP/USD cross rising is down to dollar weakness.

January saw the U.S. dollar record its worst start to a year since 1987, as fears continue to mount over the start of President Donald Trump's administration, with Trump failing to back up his promises to cut taxes and increase fiscal spending,

Investors seem to be worried over Trumps protectionist trade stance and the impact it could have on the U.S. economy. There is also signs the new administration are attempting to devalue the U.S. dollar, as I mentioned in my post yesterday (click here for yesterday's post).

 

Federal Reserve meeting.

Later today the U.S. Federal Reserve (Fed) will conclude their latest policy meeting. It is likely the Fed will be waiting for clarity over President Trump's future economic policies before raising interest rates again, but if Fed Chair Janet Yellen hints about when the next hike might take place we could see the dollar strengthen slightly.

Do you need to buy or sell dollars?

 

If you are looking to buy or sell dollars in the weeks 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 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.