Foreign Currency Direct Foreign Currency Direct
Open an account

Donald Trump ripped into China yesterday afternoon from his twitter account accusing them of not coming through with buying more US agricultural products such as Soya beans. Trumps team are currently meeting with the Chinese with rumours surfacing earlier in the week that some sort of deal may be close. However following yesterday’s outburst, it seems unlikely that there is much truth behind a deal being around the corner.

Currency Pair% Change (Month)Difference on £200,000
GBPUSD4.75%$10,640
President Trump Impeachment Trial

Trump vs Federal Reserve

Late this afternoon the Federal reserve are expected to deliver their latest interest rate decision, which analysts forecast will be a 0.25% cut. Trump has relentlessly commented on the Fed’s actions in the past whilst he has watched them raise interest rates 2% since he became President in 2016.

Trump has called for there to be cuts to the interest rates so that consumers would have increased expenditure rather than paying back more on borrowings, his policy has been to lower taxes whilst the Federal Reserve have been raising rates. Some may see this is the Fed finally giving in to the President’s demands however having followed their own path for nearly three years the economy may need the cut.

Federal Reserve Chairman Jerome Powell will provide his latest comments and their may be the question of pressure from President Trump, in previous statements he has laughed these off and this could stay the same.

The key indication the market may be looking for is if there are plans for future cuts this year or whether they make this change and see what happens in the near future. There may be some changes to the market once the decision is announced but so often is the case that the markets could have potentially priced in the expected. If you’re looking to make a transfer in the near future involving US dollars, you may wish to get in touch with your broker to discuss your options.

Read our monthly currency forecast

Download here

News

GBP Exchange Rates Continue to Be Influenced by Coronavirus

GBP Exchange Rates Continue to Be Influenced by Coronavirus

The COVID-19 pandemic continues to be the main driver for GBP exchange rates with Andrew Bailey stating the UK was entering the second phase of the crisis.

By Tom Higham
Sterling Falls on No-Deal Brexit Fears

Sterling Falls on No-Deal Brexit Fears

No-deal Brexit fears continue to weigh on sterling as the EU announce economic rescue package.

By Rob Harold
Sterling Under Pressure Due to Brexit Uncertainty

Sterling Under Pressure Due to Brexit Uncertainty

GBP has once more found itself under pressure to to the ongoing Brexcit trade negotiations as both the UK and EU reach a stalemate.

By Tom Holian
Read more articles

 

P. Marsh

UK

All the staff I spoke with were helpful ,courteous and knowledgeable. The service is efficient and FCD make the exchange process hassle free.

Read our testimonials

L. Mallet

UK

Personal, attentive. What more can I say? First Rate.

Read our testimonials

M. Clow

Italy

Efficient, friendly, personable – I have used this service several times and will not hesitate to call on them the next time a foreign currency transfer is required.

Read our testimonials

J. Heron

New Zealand

Quick, competent and friendly: a reassuring excellence of service, which I heartily recommend to every potential client.

Read our testimonials
Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.