The Pound is looking like it could rise against the US Dollar owing to an absence of any fresh new bad news for the Pound. In fact for one, we actually have had some good news lately. The general outlook on Sterling exchange rates has become more and more positive lately as investors get behind Theresa May’s plan to take over Brexit negotiations.
Behind all of this of course is the general impression is that the UK is now lagging behind the global economy in economic growth concerns, the expectation is this could now weigh on the Pound in the future.
GBPUSD levels have risen towards the 1.32 level as investors find reason for positivity behind Sterling. The US Dollar is also trading ever so slightly lower against many currencies owing to a lack of new news to really push the market higher.
We will get some key news tomorrow with the European Central Bank which could create some volatility on EURUSD exchange rates. This can influence GBPUSD levels as money coming in and out of the Euro on EURUSD will have an effect on the US Dollar against the Pound.
The pound is looking like it could rise further against the US Dollar too if the outlook for the Trade Wars begins to subside. Investors expecting the Trade Wars to escalate dramatically have been left disappointed and the lack of any deterioration has seen the US Dollar slightly weaken.
The big news to round off the week is going to be the US GDP (Gross Domestic Product) data which is due on Friday afternoon at 13.30. The US economy has been performing well and any good news for the US economy could put the brakes on the recent slightly better run for US Dollar buyers with Pounds.
If you have any questions relating to transfer buying or selling Dollars for Pounds, please speak to me Jonathan Watson to get a full overview of the market and the best exchange rates and strategy for the transaction. Feel free to call on 01494 725 353 or email me directly using [email protected].