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. The table below shows the difference in USD you would have achieved when buying £200,000.00 during the last week.
|Currency Pair||% Change||Difference on £200,000|
This week is set to be a fairly volatile one once again for Dollar exchange rates, not only are there on-going issues with Trump and North Korea, along with flows from the Euro after the German elections, but we also have 11 out of the 16 Federal Reserve members due to speak throughout the week.
Investors and speculators alike will be keeping a keen eye on comments from these members on future interest rate changes. We do have expectations of one more rate hike from the States this year but should any member hint that another one wouldn’t be far away then these current multi month highs to buy U.S Dollars may not stick around for long.
A few weeks ago £200,000 would have purchased you $16,000 less than you could achieve with that figure now, so there is a still a huge buying opportunity for those looking to buy USD, AED, SAR or any currency pegged to the Dollar.
According to the foreign minister of North Korea, President Trump has now declared war and that North Korea now have the right to shoot down US strategic bombers, even if they are not in the airspace border of the country.
This on-going issue has been going on for some time now and any big move from either side may lead to a major shift in global attitude to risk which could send both the Dollar and perceived ‘riskier’ currencies all over the place.
Apart from the speeches there is plenty of data out for the States this week, much like other currencies in this report it does tend to heat up as the week progresses, with Jobless Claims (unemployment) and growth data due on Thursday at 13:30pm and a flurry of data throughout Friday afternoon I would expect that Dollar exchange rates will not sit still for long in the week ahead.
Couple all of this with all of the political issues both within the U.S and between the U.S and other nations and this is not a currency to take your eye off of at present.
If you have a particular rate you wish to achieve there is the option of a limit order though our brokerage. This contract type allows our system to automatically buy your currency at a specific rate chosen by you should it become available, 24 hours a day, 7 days a week. It is extremely handy when the market is as volatile as it is and there are data releases, speeches and breaking news happening outside of normal trading times.
To contact one of our experienced brokers to discuss Dollar exchange rates feel free to call our trading floor on 01494 725353 or email me here.
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We spoke with Daniel for only a few minutes and the funds were in our Spanish Bank Account later that day at the best exchange rate one could get on the day. We would never use anyone else to transfer our funds abroad.