Banks Morgan Stanley and Goldman Sachs have both revealed completely different interpretations of where the GBP/USD is headed. Morgan Stanley said that upon the announcement of Article 50 on March 29th they forecast that Sterling could start to move towards the $1.29 mark, suggesting any downside is priced in. However, Goldman do not believe the fallout for triggering Article 50 has been completely factored in. They think there could still be further losses for Sterling which could take the rate below the $1.20 level.
Head of the FBI James Comey refused to give any information away when asked if the FBI had information on connections between Donald Trump and Russia. The circumstances surrounding how Democrat emails were leaked online in the run-up to the election is still contentious and continuing.
There is thought in some circles that there could be physical proof which whilst unlikely to prove Trump was involved, could raise some questions of credibility. If the President was to be indicted then that could have significant consequences on the strength of the US Dollar.
After Comey had revealed the revelations Trump spoke at a Kentucky rally however failed to mention any of the claims. Unlike Trump who is normally quick to shoot something down, his cautious treading around the subject may raise more questions.
With so many political as well as economic stories breaking into the news the GBP/USD rate has been considerably volatile. In the last month, a £200,000 US Dollar transfer would achieve the difference of $8980 from the high and the low, being in contact with your broker could make sure you trade at the best levels. If youre yet to register an account, click here and sign up for your free personal broker today.