Donald Trump seems to be losing yet more ground against Hillary Clinton during the latest election rally in North Carolina, where he insinuated that his supporters could stop his rival by exercising their rights to own firearms. This sparked yet another firestorm in the US media, as his comments were widely taken as hints towards an assassination of the candidate.
Trump has not been shy in speaking his mind over the course of the last few months, causing outrage during many of his speeches, and it seems that this comment was just another step too far. The latest poll by Bloomberg suggests that Clinton is now in the lead with 50% of supporters, putting Trump on the back foot with 44%, and the USD fell against all of its major counterparts, and by over half a cent against the Pound following the comments.
This just goes to show how fearful many investors are of a Trump presidency, and I feel that the lead up to the Elections in November could prove to incredibly volatile for USD exchange rates.
This Afternoon at 1.30pm will see the release of US Imports and Exports data, and both are expected to see a fall in July compared to June’s readings. Initial Jobless Claims data for last week is expected to improve from the previous week. If these releases are positive as anticipated, we could see further Dollar strength. Arguably the most influential release for the remainder of the week will be Retail Sales figures on Friday which are projected to be worse than the previous month, and if this is the case any Dollar strength could be quickly reversed. If you are looking to sell Dollars for Pounds in the immediate future, you may wish to do so before this key announcement on Friday.
Do you need to make a transfer and have concerns about further exchange rate changes? Why not speak to our brokers on 01494 725 353 to find out more.
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