This US Dollar report will examine the factors that could affect exchange rates in the short term to help you stay informed if you need to make a currency transfer. The table below shows the difference you would have received when buying £200,000 at the high compared to the low during this year to date.
|Currency Pair||% Change||Difference on £200,000|
The Euro has benefited from the increasingly unpopular US Dollar in recent weeks, as the talk of Russian collusion in the lead up to last year’s Presidential election is concerning investors, especially after it emerged that Donald Trump Jr met with Russian officials during his father’s successful campaign.
Whether or not any rules were broken remains to be seen, but it hasn’t done the US Dollar any favours, as although the currency has gained slightly against the weakening Pound, it hasn’t done so well against other currency pairs.
Another reason for the greenbacks softening can be put down to Trumps inability to be able to pass his economic and tax reform plans, with him demonstrating his frustrations via his Twitter social media account.
The North Korea topic has made its way into the forefront of conversation politically in the US, which Trump has done his best to highlight whilst also mentioning other key nations he believes should be doing their best to halt the fear of nuclear warfare, with China being his main focus.
There have been a number of displays of military power from North Korea in recent times, as Kim Jong-un has vowed to attack America and suggested that North Korean missiles have the capacity to reach North America.
In many cases I would consider this to be a negative but due to the US Dollars status as a safe haven currency there’s the chance it could strengthen in the wake of aggressions from other nations. If you’re concerned with the Dollars value its worth keeping an eye on this subject.
Friday’s Inflation data at 1.30pm is expected to be the most important data release for the US this week. There is an expectation of 1.8% for the month of July, so expect any deviations from this figure to result in Dollar movement and feel free to get in touch if you wish to be kept updated.
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