Getting the best exchange rate can be achieved by understanding what is driving rates and the service of a specialist currency broker. Below are movements for this year to date affecting the amount in USD you would have achieve when buying £200,000 at the high and low points.
|Currency Pair||% Change||Difference on £200,000|
Donald Trump has rarely been out of the headlines since he first announced he was running for President, let alone actually winning the Presidency. In recent weeks his son, Donald Trump Jr has hit the headlines after it emerged he met with a Russian lawyer claiming to have damaging information on Hilary Clinton, who at the time was Trump seniors main opponent in the race for the Presidency.
This revelation has come just a week or so since Anthony Van Jones, one of CNN’s highest-profile political commentators and Trump critics, was caught on camera calling the Russia scandal ‘a big nothing burger’ off screen.
Van Jones has since claimed this was a hoax although considering CNN have given the Russian collusion claims so much airtime I think his comments in particular are noteworthy.
The Dollar dipped in the wake of Trump Jr’s releasing of the emails and I think that anyone with a currency requirement involving the US Dollar should pay close attention to how this ever changing story unfolds, as in my opinion any story with the ability to swing both currency and stock markets is more than a ‘nothing burger’.
Early this morning it was announced that two more Republican senators have opposed their party’s replacement for Obamacare, meaning that it’s impossible for the new bill to pass in its current form. This is another setback for Trump who hasn’t had the easiest time in office recently.
The US Dollar sold off across the board towards the end of last week. This time it wasn’t a Trump revelation that instigated the sell-off, but dovish comments from Fed Chairlady Janet Yellen.
Last week she indicated that interest rates ‘may not have to rise all that much further to get to a neutral policy stance’ and reiterated that the Feds moves will be determined by the economic data out of the US.
Those looking to sell US Dollars are still close to a 3-decade high, and those hoping to trade at further favourable levels may wish to consider Yellen’s comments as with no further rate hikes and the potential for the Russian collusion story to cause another sell-off, the Dollar may weaken from here as the year progresses.
There’s a quiet week ahead for the US in terms of data releases, but this Thursday’s Initial Jobless claims along with Continuing Jobless claims could result in further movement for US exchange rates.
Feel free to get in touch if you wish to be kept updated or trade around this news release. You can get in touch on 01494 725 353 or email me here.
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.