Pound vs US Dollar Rates close to 12 month high (Tom Holian)

The Pound is now trading very close to the best levels in a year to buy US Dollars after US jobs growth slowed in December according to the latest Non-Farm Payroll data for December was published on Friday afternoon.

The amount of new jobs created was for 148,000 which was lower than the previous figure for November of 252,000.

Although US unemployment is at 4.1% the amount of new jobs created slowed down highlighting that things may not be going as well as some have expected in the world’s leading economy.

The retail sector saw the biggest loss of jobs which constitutes of total of 10% of the entire US workforce although manufacturing jobs grew.

The US economy is going through a relatively mixed period at the moment and the recent economic data has proved the same.

I do not think this will really have too much of an impact on the Federal Reserve’s decision concerning interest rate policy moving forward but if the data continues to be mixed then this could cause a shift in sentiment.

Next week could see a lot of movement for GBPUSD exchange rates especially on Wednesday when the UK releases Industrial & Manufacturing Production data which are both a big part of the economy.

We end next week with US inflation data so if you’re in the market to exchange US Dollars then make sure you’re well prepared for the end of next week.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.