Current USD strength could be short lived is Sterling increased in value. As interest rate hikes for the beginning of next have already been priced in by the markets.
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As Sterling sees some improvement based on progress with Brexit negotiations, time will tell how the markets will react to future developments.
The recent Alabama senate election has caused volatility for USD, this is the first time in almost 25 that a democrat has one the seat.
Ahead of the expected US interest rate hike by the Federal Reserve, the US Dollar has continued to strengthen. When is the best time to buy or sell US Dollars?
ZEW Economic Sentiment data for Germany was lower than expected which was unwelcome news. The EU Summit this week is likely to affect EUR rates.
With the EU Summit beginning on Thursday we are expecting some Sterling exchange rate volatility towards the end of this week.
Sterling has had a slow start to the day which is likely partly due to some comments from Brexit Minister David Davis over the weekend.
Sterling have spiked after the first phase of Brexit negotiations was completed following agreement on some key points. Now talks can move on to the relationship between the UK and the EU after Brexit.
The Pound has increased in value following rumours that a deal that will allow the UK and EU progress to phase 2 of Brexit talks could be on the horizon.
Yesterday afternoon the European Commission revealed their road map, showing their initiatives and plans to build upon the EU’s recent improvement.
Australian GDP data, released this morning, failed to meet expectations, however investors were offered a glimmer of hope from the RBA, who remarked that they could be ready to raise interest rates by March 2019.