Less than 1 month to Presidential Election

After Sunday night’s explosive TV debate, the second of three before the big vote on 8th November, Hillary Clinton seems to be holding onto the lead in the polls. Shots were once again fired from both parties, after video footage of Donald Trump in 2005 was released of him making obscene remarks about women, prompting at least 38 senior Republican members including Senators, State Governors and Members of Congress to withdraw their support for him. During the debate, Trump referred to Clinton’s Husband’s alleged abusive behaviour before once again revisiting the issue of leaked emails, with the final blow from Trump stating that Clinton would be in jail if he were to become the next President. General consensus was that this debate was a closer call than the last, with Hillary Clinton narrowly winning.

With less than a month until the Presidential election, now may be the time to consider putting a plan in place for a future currency requirement, as history tells us that any political event has the capacity to cause huge market volatility. Although the polls have put Clinton in the lead for some time now, polls aren’t always accurate as we only recently discovered on 23rd June, and I feel the current 31 year high trading levels for USD/GBP may not be around for much longer, and clients holding Dollars may wish to move sooner rather than later.

Will the FED raise interest rates on 2nd November?

Tomorrow evening the Federal Open Market Committee will release minutes from their latest meeting, hopefully providing an insight into when the FED will next look to raise interest rates. At the beginning of this year 4 rate hikes were on the cards, but we’re now most of the way through the year with no change. The next Federal Reserve Interest Rate decision is on 2nd November just days before the Election – would they opt for a change in monetary policy so close to such a huge political event? Personally, I don’t feel it’s likely, however the FOMC may hint towards a potential hike at the last decision of this year on 14th December, once the presidential dust has settled a little.

Those looking to buy or sell US Dollars could benefit from keeping in touch with our brokers. With new updates daily, exchange rates could become very volatile as we approach November.

Call our trading floor on 01494 725 353 to discuss a currency transfer.

News

Read more articles
Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.