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On Thursday, 15th October 2015 following question to our expert...
I need to exchange a large sum of USD to GBP in the next week or so. The best rate was 1st of Oct and it has been going down since. Do you see this going back up in the next few days? Thank you
On Thursday, 15th October 2015 ...
Thanks for getting in touch.
In answer to your question, the US Dollar has struggled against Sterling over the past 48hrs. Last night’s downbeat message regarding the US economy from the Federal Reserve has caused investors to push back their expectations for the next US interest rate hike, while yesterday’s UK jobs figures have helped the Pound.
The future direction for GBP USD largely hinges on whether the Fed will increase American interest rates this year. If you are with the bulk of analysts who still believe that they will hike in December, then you have got to be thinking that USD will improve against GBP.
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