The newly inaugurated President of the US, Donald Trump has been a key figure within our market reports for the past year and that doesn’t appear to be stopping anytime soon. His most recent headline grabbing plans have been his blocking of nationals into the US from 7 countries he considers high risk.
Since he introduced this ban two US states have argued against it along the grounds of it being unconstitutional. Many have also protested in the streets, both at home and abroad and a federal judge has blocked the ban. An appeal by the Trump administration has since been rejected also.
The bold moves by Trump early into his Presidency could impact international relations in my opinion, and if there are counter moves by other nations whether in the movement of people or trade accessibility, I think the dollar could under pressure should there be negative impacts on the US economy.
Last week Trump took his first steps to try and scale back US financial regulations. He’s ordered a review into the 2010 Dodd-Frank regulations which were implemented in the aftermath of the 2008 global financial crisis, in an attempt to avoid another financial meltdown.
Many on Wall St claim the regulations are over restrictive but others may be concerned by this move. For me a clear sign of intent by Trump to boost the economy which appears to be a key topic for him. I also would like to remind US Dollar sellers that he thinks the US Dollar is overvalued, and that it has weakened in recent weeks against the Pound by around 3%.
On Tuesday this week Trade Balance figures will be released, and then on Thursday Initial Jobless Claims will likely be the day’s main event for US Dollar exchange rates. Both are scheduled for 1.30pm and feel free to get in touch if you wish to plan around these events.
Trumps erratic behavior has not gone unnoticed and clients with a US Dollar buying or selling requirement may wish to protect their position in the event of further controversies. Speak with a member of our team on 01494 725 353 or email me at firstname.lastname@example.org and Ill be happy to assist.
My experience with Foreign Currency Direct has been excellent, and my account Manager Joseph Wright has been First Class. He has provided me with all the information that I needed, in a very clear way, that made it easy to understand.
Successful transfer to France. I have used Foreign Currency Direct several times. Nothing is too much trouble to explain, and when it comes to the actual transfer, it takes place on time without fuss. Never had a problem. Thank you Joseph!
Very efficient and responsive. We had great service from Joe Wright who helped us (patiently and with humour) through our currency purchase and was then able to guide us through the process of sending money to France for our property purchase.
Joseph treated us very professionally as well as friendly, and advised and went beyond his duty. Would recommend and use him again.