As you more than likely will have heard the markets are a little volatile to say the least at present with major thanks to American politics as the Government began their first partial shutdown over there since 1987 early on Tuesday morning.
This has led to the Dollar losing ground against most major currencies in the early part of this week.
The situation over in the States really is a strange one and personally I am somewhat surprised that the USD has lost so much ground of late. With the media hype around all of this the Dollar has far from been strong.
Next on the agenda is the debt ceiling issue and whether or not America will officially default on their debt.
We have had the debt ceiling issue come up on a couple of occasions and what has happened in the past is we have seen it all get really hyped up until the deadline and then they resolve it – I did also think this may happen with the recent Government issue but be warned they did surprise us!
Personally I feel the Government and debt ceiling issues will be resolved in the coming weeks and the focus will move back to the potential tapering of QE (Quantitative Easing) which should hopefully strengthen the Dollar in your favour again.
Tapering may be likely before the end of this year and that in my opinion should be the trigger to kick start the Dollar again so if you have a little time to wait and you are looking to sell Dollars it could be worth holding tight for a little while longer but do be warned, the markets will do whatever they can to prove the majority wrong!
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