• About Us
  • Authors
  • Currency Charts
  • Live Exchange Rates
  • Contact Us

Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

  • British Sterling
  • Euro
  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Brexit News
You are here: Home / US Dollar / The Dollar is firmly in focus

The Dollar is firmly in focus

August 16, 2017 by Lewis Edmonds

The Dollar is firmly in focus

Both politics and economics are driving the dollar’s value at present. Donald Trump has once again caused a stir with his comments yesterday following a decision to back up his original stance on the Charlottetown disturbance, by stating there was ‘blame on both sides’. His comments haven’t been well received; many politicians including several fellow republicans have let their thoughts be known that far right groups should never be condoned. Many world leaders, including Theresa May have made it clear that far-right groups should be condemned. I think this could potentially spell trouble for the President with so many opposing the comments he has made.

Since the beginning of the day, the USD has given up the gains that it made yesterday following better than expected retail sales figures. Yesterday’s data helped to increase the chances of a rate hike in the US before the end of the year which is why the dollar strengthened considerably throughout yesterday’s trading.

Housing market data released today

Today however, housing market data was released and showed an unexpected drop in July. As building new dwellings is often seen as a key barometer to the economy, the dollar subsequently lost ground. Better than expected wage growth data and unemployment data for the UK helped to push GBPUSD back up from the 6 week low from yesterday.

Future data released to take note of

The key data is yet to come. Tonight, the Federal Reserve (FED) will release the minutes from their latest Federal Open Market Committee meeting, which should give an insight into the course the FED will take regarding raising interest rates. I would expect this event to cause significant volatility on USD exchange rates.

Filed Under: US Dollar Tagged With: Donald Trump, Federal Reserve Bank of America, GBPUSD, US interest rate

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

About Lewis Edmonds

When he is not offering insights into the what is happening on the currency markets Lewis manages key relationships for an authorised payment institution in the UK.

Recent Posts

  • Sterling finds support but unlikely to make any significant impact in the coming days May 9, 2018
  • US Dollar hits 5 month high against Sterling May 2, 2018
  • Sterling exchange rates at the mercy of political developments May 1, 2018
  • Pound weakens as political uncertainty once again raises its head May 1, 2018
  • Will Mario Draghi’s speech impact GBP/EUR? April 26, 2018

Live Exchange Rates

Archives




Copyright © 2021 — Currency.co.uk • All rights reserved. • Exchange Rate Forecasts • Privacy Policy •

We use cookies to ensure that we give you the best experience on our website. By using this site you agree to receiving cookies.I agreeRead Privacy Policy