Visitors Now:
Total Visits:
Total Stories:
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Will Sterling fall further against the US Dollar in the run up to the election (Tom Holian)

Friday, October 28, 2016 23:25
% of readers think this story is Fact. Add your two cents.

(Before It's News)

We are now less than 2 weeks before the US goes to the polls to deicde whether Hillary Clinton or Donald Trump will become the next US president. At the moment it appears as though Clinton is leading in the polls with 49% compared to 45%. However, as the Brexit proved polls can be very unreliable.

The US economy is going from strength to strength and yesterday GDP figures for the third quarter came out at 2.9% in the three months to September according to the US Commerce Department. Jobless claims also showed that unemployment levels are falling so everything looks to be on course for an interest rate hike in the world’s leading economy.

To me I think the US Federal Reserve have more than enough reasons to increase interest rates but with the election looming I think they are waiting to see what happens with the next president.

The GDP figures for the year showed 0.4% better than the expectation of 2.5% and this has seen GBPUSD exchange rates fall to close to their lowest level in 31 years.

Even though this week the UK posted better than expected GDP data this did little to improve the Pound vs the Greenback and this highlights the problems that the UK is facing with the announcement that Article 50 will be triggered by March 2017. Since the Brexit Sterling has fallen dramatically and I think we could see further falls ahead for Sterling exchange rates against all major currencies. Indeed, Sterling is the world’s worst performing currency on the global money markets this year.

Having worked in the foreign exchange industry since 2003 I am confident that I can offer you bank beating exchange rates and also help you with the timing of your currency transfer.

If you have a currency transfer to make and want further information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Alternatively fill in the form below [contact-form] 

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.