GBP Gains Strength Against the US DollarApril 1, 2016 2:56 pm
The GBP has gained strength this week against the weakened USD due to news coming out from the US Federal Reserve. This has put the GBP at a 9 day high against the currency seeing it increase steadily. There is still uncertainty around the Bank of England raising its interest rates which is leaving the currency very volatile at the moment.
The Brexit issue is still ongoing with the date getting closer to voting this is leaving the EUR slightly stronger in the last few weeks. The GBP still remains stronger overall against the currency. This week saw German inflation data come out which saw the EUR gain some strength. The uncertainty of the Brexit will benefit the EUR as the GBP currency remains volatile until the votes are made.
The USD weakened this week after the Federal Reserve Chief left investors that the interest rates would not increase for the US at any time in the near future. There may be more USD weakness with low oil prices and slower growth than predicted by the US. It would be advisable to secure your USD/GBP rate at the moment, you can use our ‘Book a Forward’ tool to secure your rate for up to 12 months.Tags: gbp to usd rate, pound sterling
Categorised in: News
This post was written by Kayleigh Driscoll