In the wake of a Brexit, US Dollar has naturally found strength due to its safe-haven status.

Great time to bring back USD, AED and other currencies pegged to the Dollar!

Since I have been working here this is the best rate there has been to sell U.S Dollars, AED and all other currencies that are officially pegged to the Dollar.

Clients have been rushing to send home their wages from Dubai, bring back their share profits from the States or bring home the Dollars they have from the sale of a property over in America. Where the Dollar exchange rate heads next is a tough question. Consider that we had initially been expecting a number of interest rate hikes this year from the Federal Reserve and the fact that this would be viewed as positive for the Dollar first and foremost.

These rate hikes have yet to surface and at the last Fed meeting Janet Yellen commented that she had concerns on a potential brexit and should this happen they may be put back even further.

Where will the Dollar settle?

I feel that we will find the 1.30 mark as a level of resistance against the USD and that rates will head back up closer to 1.40 in the coming weeks. We need to realise that surprises may happen and may completely change market conditions but I feel that we may have seen the main burst now for the Dollar unless further political turmoil takes the stage again for the U.K.

Once the announcement of rate cuts being placed on hold again in the U.S is made I would imagine this will lead to the Dollar losing back a little ground and this is where I feel Sterling may fight back a little.

Those looking to sell US Dollars for Sterling have an opportunity not seen for over 30 years. Call us today for a quote on 01494 725 353 or email djw@currencies.co.uk.

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