Dollar Strength against Sterling (Tom Holian)

Will GBP Hold Onto Last Week’s Late Gains?

GBPUSD exchange rates have fallen below 1.50 over the last few weeks as rumours persist of an interest rate hike in the US.

Indeed, a couple of Fed members have suggested that this could happen as early as June which has seen the US Dollar strengthen against both Sterling and the Euro.

This is not good news if you have a currency transfer to buy US Dollars so it may be worth getting something organised over the next few days.

Over the next few weeks the UK general election will take place and with no party likely to from a majority we could see Sterling lose further ground as it is likely that we’ll experience another hung parliament.

When the same thing happened previously Sterling took a fall against all major currencies.

if you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian