This US Dollar report will examine the factors that could affect exchange rates in the short term 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|
US Generals have confirmed that they will go ahead with the planned military exercises near to the North Korean border. North Korea in a typical act of defiance have once again suggested they will attack Guam or other close US Islands with a “merciless strike”. Official reports in the State press suggested that the war exercises are reckless and driving the countries to uncontrollable war.
An all-out war with North Korea would have a major effect on currency markets and could see the USD jump as a safe haven currency. Whilst this rhetoric has been going on for some time between the US and North Korea it seems the two sides are closer than ever to war.
There is a quiet week for data in the US with the main release coming on Wednesday in the form of New Homes and PMI data. This will then be followed by Durable Goods orders on Friday. Currently all data is treated more seriously in the US as analysts await for any hints with regards to the final interest rate hike expected in 2017.
The data for the US in the first half of the year had been strong however there had been a few concerns raised in the past few months, permitting good data over the next few months then there is thought to be an interest rate hike coming in December, however if the date moves into 2018 then the US Dollar could see losses.
The Jackson Hole Symposium will also be starting on Thursday which will see lots of speakers providing their thoughts on the economy. This can have quite a significant effect on the markets depending on what certain individuals say and could cause sharp movements in the markets.
If you do have a requirement let your trader know as they could set a rate alert to make sure they’re contacting you at a level you want to achieve.
Thank you for reading today’s US Dollar report, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than happy to assist you with any of your currency requirements. Feel free to e-mail me here.
Amazing Customer service. Great spot rates & reliable transfers
Excellent service and very efficient and easy process.
I have used Foreign Currency Direct for many years and always helpful, polite and good rates according to the market. Easy transactions and seamless service