With the currency markets moving every two seconds, it can be vitally important to be aware of what is driving the currencies in or out of your favour. Check live interbank rates.
In the table below you’ll find high to low GBP/USD exchange rate movement and the difference when exchanging £200,000 Pounds to US Dollars at the high compared to the low during the last month:
|Currency Pair||% Change||Difference on £200,000|
The Dollar had fallen out of favour with investors of late, following growing tensions between North Korea, unknown costs to the economy following two devastating hurricanes all adding to a cloud of uncertainty over when the next interest rate would occur.
However, president of the Philadelphia Federal Reserve, Patrick Harker gave clues that he had pencilled in an interest rate hike for December, and the another 3 for 2018.
The prospect of an interest rate hike in the US this year helped the Dollar to regain some strength.
This week’s data will be keenly watched as to whether comments regarding an interest rate hike are warranted. The US jobs report is due on Friday this week and is a key gauge as to whether the US will raise rates. However, with the effects of Hurricane Irma and Harvey are expected to start to make an impact on people’s ability to get to work, I would expect to see this to start to have a negative effect on the readings. However, as this is largely expected, I wouldn’t expect the Dollar to react too adversely.
There could be some volatility mid-week for the Dollar, as Janet Yellen gives a speech at a conference in St Louis. Having recently voiced an opinion that the Federal Reserve could raise interest rates by the end of year, any further indication that rates will be raised this year will likely help to strengthen the Dollar before the all-important job data on Friday.
For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353.
Superb service. Fast efficient and friendly staff, getting you the best value for your money.
Very straightforward, no hidden charges together with the best exchange rates. Excellent service. Highly recommended.
They always answer the phone straight away, they are very helpful and always call back. They have the best rates.
Brilliant service. One of the best companies ever dealt with. Had time to talk to me and offer great rates too.
Efficient service as always. Excellent customer service, with dedicated dealers who get to know you. Would not hesitate to recommend.