In recent weeks the USD has been weakening in value and a majority of this can be attributed to the failings of Present Trump to meet any of his campaign pledges. His health bills have been turned down twice and recently the elusive wall building has been in focus. After campaigning that the Mexicans would be paying for the wall, once in office he accepted that it may need to be paid for with tax money and then repaid through other methods.
This was put into his recent budget which has been continually turned down by congress threating another government shutdown. This continued failing by the President is highlighting the different skills required for campaigning and governing which in turn is also making traders wary that he could also fail to deliver on tax cuts and infrastructure spending.
Personally I expect this to continue and I think that GBP/USD levels reaching 1.30 is more of a question of when rather than if.
On Friday of this week we have the latest update on the economic health of the world’s largest economy as GDP figures are released in the afternoon. Sales of previously owned homes in the US hit the highest rate in 10 years, with strong jobs growth boosting the housing market; this is something I expect President Trump to be talking about for some time.
There are also UK GDP figures on Friday, which could present opportunities for those with an up and coming US Dollar requirement. Trading between these two events could save you significantly and I recommend detailing your requirements to us as soon as possible on 01494 725 353. Email me here if you are yet to trade with us and would like to speak with someone regarding a transfer.
First class service as ever from Stephen Eakins. Very quick and superb advice!!
Excellent service from Stephen Eakins as always. Manages to achieve a high standard of professionalism and efficiency combined with a friendly approach.
Sending money to France has been so easy. I was amazed at how simple the process was. Steve Eakins is a pleasure to deal with, no fuss or drama just a great, friendly attitude.