This has the potential to be one of the most volatile weeks for the USD we have seen for some time, so it is extremely important that you work with your broker here to put a strategy in place that could help save you thousands of Pounds.
Barring any dramatic shocks, it is looking highly likely that the US Federal Reserve will be announcing an interest rate hike in their Monetary policy statement on Wednesday evening at 7pm. So the question is, should I buy my US Dollars now? Today doesnt look like offering up any spikes for USD buyers, with inflation figures expected to show an improvement which should in turn actually strengthen the dollar.
I personally feel that the prospect of a rate hike has been priced in to the market meaning that many USD sellers will be left disappointed. However, I still see the market dropping below the 1.50 level so anyone buying Dollars would be sensible to move whilst current levels are achievable to avoid missing out.
The question now is more how much they will increase rates by and when the next hike will be. The polls are currently suggesting that we could see an initial rise from 0.25-0.5% with expectations for a very gradual pace in increases to follow. I believe that it is these announcements that are likely to create most market movement. The office will be closed during the announcement so make sure to contact your broker here well in advance.
If you need assistance with a US Dollar exchange or would like to know more about transferring money to the United States please email me at firstname.lastname@example.org.
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