It looks unlikely that the FED will hike rates anytime soon, this could weaken USD as we move closer to the US election. You can view our live exchange rates page for up to date rates.
Monday evening Janet Yellen Chairlady of the Federal Reserve exclaimed the UK’s referendum in regards to EU membership could have major ‘economic repercussions’ for the US and a change in market sentiment would holt the economic recovery. Couple this with poor Non- Farm payroll numbers last Friday I believe there is no chance we will see the FED hike Interest Rates on June 15th.
In fact now the Presidential elections are close to announcing Hilary Clinton as the leader of the Democratic Party, campaigning will start to begin between Hilary and Donald Trump. Elections cause volatility and investor confidence diminishes. Therefore I stick to me statement in recent reports and believe the US will not hike until the election is over and therefore the USD could lose value throughout quarter 3 and 4 of this year.
For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here.