This USD report will address the factors that could affect US Dollar exchange rates in the short-term, while also looking at whether USD exchange rates have hit their peak.
Should you be in the position where you need to sell USD (or in fact any other currency pegged to the Dollar) then you may have been watching exchange rates move further and further in the right direction for you of late.
The next decision to make really is when to jump and exchange your currency. In my opinion, looking back over the past 10 years we are now almost at the same levels that we saw during the Fannie Mae and Freddie mac scenario, which led to the European debt crisis and was the worst global turmoil the world has seen in many years.
During troubled times the Dollar tends to benefit and considering that at present we are nowhere near such troubles I do not feel that the rate will get down lower than we saw during that period (in the mid-1.30s). On the other side of the argument however if trouble does erupt then we must recall that in 1985 the GBP/USD exchange rate did actually get down to 1.05 so although I personally do not expect to see it drop, is does have the capability to get that low.
We have some growth figures out at 13:30pm however these are merely revisions so I would expect the end of the week for USD exchange rates to be based on global attitude to risk.
For more news on how future data releases could affect your currency requirement, call our currency brokers on 01494 725 353 or email me here.
Top currency broker. Fantastic Daniel Wright was really helpful. I have now changed my currency broker I have been with for 10 years to yourselves.
The whole process was simple by Daniel Wright. He described the various stages to the process very clearly & was always available to talk to. A very knowledgeable & friendly person! I highly recommend Foreign Currency Direct.
Superb none better. Impeccable service. So so efficient. Absolutely delighted with the way this company works and especially Daniel.
Would always recommend them. They have their fingers on the pulse and could not be more helpful. Have dealt with Daniel Wright every time who is polite, patient and charming.
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.