The Federal Reserve meets tonight to discuss interest rates and there is an outside chance of a rate hike happening this evening.
Although I think the US could afford to raise interest rates I don’t think we’ll see any change tonight.
However, if there is a stronger suggestion as to when they may change monetary policy this could see Dollar strength and Euro weakness providing some excellent opportunities to buy Euros tomorrow.
With UK average earnings yesterday showing the strongest levels since 2009 this 6 year high gave Sterling a lift against the single currency during yesterday’s trading session.
Indeed, with Eurozone inflation falling to 0.1% compared to the estimate of 0.2% this ongoing fall in inflation could put more pressure on the ECB to increase the amount of QE before the end of the year which could also lead to Euro weakness.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]