This US Dollar report will examine the factors that could affect exchange rates in the coming weeks to help you stay informed if you need to make a currency transfer. The table below shows the difference you would have received when buying £200,000 at the high compared to the low for the past week.
|Currency Pair||% Change||Difference on £200,000|
President Trump has signified he thought the G20 was a resounding success where he achieved what he was aiming for. He held talks with Russian President Putin and discussed his concerns regarding North Korea with Chinese President Xi Jingping. Trump earlier in the week had been writing tweets challenging Chinas relationship with North Korea, however he seemed to get on with Jingping face to face.
All the negotiations with the US President and foreign leaders appear to be positive. This could have a significant effect on the US Dollar going forward especially as they import a lot of Chinese goods. If Trump can convince the Chinese Premier to enter a trade deal to purchase more American goods then there could be a significant boost for the US economy and the US Dollar. Furthermore, if Trump can replicate this agreement with Russia, India and the UK post Brexit the US could leave countries behind with rapid economic growth.
Janet Yelllen who heads the Federal Open Market Committee, the group that vote on interest rate decisions in the US will testify in front of Congress Thursday this week. Yellen will provide an insight into the group’s thoughts with regards to the US economy and maybe an indication as to when the Committee may raise rates once more.
There is expected to be at least one more interest rate hike this year and after the Federal Reserve last month announced they would begin to offload their balance sheet of US Debt, the live televised event could create volatility.
On Friday, the US Consumer Price Index and Retail Sales Figures for June will be released. The CPI data is expected to drop from 1.9% to 1.8% from this time last year, whilst the Retails Sales is expected to improve from -0.3% to 0.2%.
Thank you for reading my US Dollar report, if you have any questions about an upcoming transfer I would be more than happy to discuss them – you can contact me with any queries here.
Fantastic! Money transferred Friday afternoon from my UK account and in my Spanish account same day. Couldnt believe it!
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