Only seven days ago the ABC News/ Washington Post poll had Hillary Clinton ahead by 12 points. However since FBO Chief James Comey announced that the FBI would be looking into Hillary’s email scandal, the polls have narrowed and have Hillary in the lead by only 1 point. Regardless of the polls narrowing the general consensus throughout the currency market is that Hillary Clinton will become President on the 7th November and therefore this could lead to further US dollar strength as she is seen as the safe option.
However it’s important to note that polls are a guideline and are not always correct. You only have to look back to the EU referendum. All of the polls had remain clearly ahead and actually the UK public voted to leave.
If you are planning to buy or sell US Dollars the Presidential Election will have an impact on the exchange rates you receive. If you have an upcoming currency transfer within the next 12 months I would recommend getting in touch to discuss your requirements.
Politics should not influence monetary policy decision made by the Federal Reserve however in recent weeks Republican candidate Donald Trump has heavily criticized Chairlady Janet Yellen as he believes economic data is supporting an interest rate hike but the FED are reluctant to raise until a new government is formed.
I don’t tend to agree with Donald Trump however I do agree on this matter. The likelihood of the FED raising rates is very minimal. However if Hillary Clinton wins the race to the White House I believe the FED will raise interest rates in December, 12 months after their last hike.
With Trump now back in the picture, Pound to US Dollar exchange rates may strengthen as markets become increasingly nervous about a Trump victory. Call our trading floor on 01494 725 353 e-mail me at firstname.lastname@example.org if you would like to discuss an upcoming currency transfer.
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