Joseph Wright
Senior Executive Dealer
US dollar continues to strengthen against sterling
The cable exchange rate remains below 1.30 as USD strengthens, following the pause to the US Government shutdown.
Request a quoteThe US dollar has continued to strengthen since the US Government shutdown came to a temporary end, and earnings season in the US began to buoy the US stock markets.
| Currency Pair | % Change in 1 month | Difference on £200,000 | |
|---|---|---|---|
 GBP |  USD | 1.45% | $3,760.62 |
Interestingly, the results for the US construction company Caterpillar disappointed this year, which is important to know especially for US dollar sellers as Caterpillar, which is seen by many as the bellwether for the global economy didn’t meet its financial targets over the past quarter. It reported the biggest profit miss in a decade as the Chinese slowdown hit the construction giant.
Slowdowns in the US economy are likely to weaken the US dollar, but there is also the chance of a global slowdown boosting the greenback’s value as it is considered a safe haven currency by many these days. If you’re planning to buy or sell US dollars, do feel free to contact us for a 2nd opinion, as US dollar pairs can be a complex pairing.
US and China talks likely to stall through February
It’s unlikely that there will be an end to the US-China trade negotiations this month, despite there being a deadline of March the 1st to reach a trade agreement, as the two powerhouses are on a 90-day hiatus in the hopes of a deal being agreed. The likelihood of the agreement being in place for the end of the month is slim according to White House economic advisor, Larry Kudlow, who suggested that they may meet after the deadline date. An announcement to suggest a longer term truce would likely boost the dollar in my opinion, potentially pushing the GBP/USD pair lower.
At the pound’s highest point yesterday it clearly struggled to break above 1.30, so moving forward I believe there is support for the US dollar at this level.
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D. Riley
UK
Straightforward, efficient and pleasant to deal with. Have used them before and will do again. Joseph is always efficient and pleasant to deal with. The transactions are very straightforward.
A. Gilmour
UK
Very efficient, reliable and professional service. Joseph Wright couldn’t be more helpful. Excellent company – no reservations about them.
T. Dillon
Joseph Wright has been an excellent account manager. Joseph is very knowledgeable on events happening in the markets and kept me well informed on my transactions.
J. Livingstone-Blevins
France
Joe Wright was efficient and very clear in explaining and effecting the transaction. He was also empathetic and never irritated by all the questions I insisted on asking. He certainly inspired confidence in your product and I will have no hesitation in recommending your services.