Expat Forum For People Moving Overseas And Living Abroad banner

1 - 1 of 1 Posts

·
Banned
Joined
·
534 Posts
Discussion Starter · #1 ·
Hi All,

As promised here’s a brief update on what’s been happening with the USD Dollar over the last week.

The USD was bought across the board last week on concerns that inflationary pressures may force the Federal Reserve into hiking interest rates earlier than previously thought. The USD was also the principal beneficiary of a year end correction in both equity and commodity markets. Early in the week a surprisingly high PPI number sparked inflation concerns. However, these were alleviated with a flat core CPI release on Wednesday. The FOMC minutes also quelled concerns of a premature rake hike keeping in the statement that rates will be at “extraordinary low levels for an extend period” However, they did state that several of the their special liquidity provisions will be allowed to expire in February and March. This week’s GDP number will be the highlight as speculation is rife around the sustainability of the US recovery. Equity and commodity markets year end nervousness and traditional USD repatriation may well continue to support the green back next week.



GBP/USD Movement – High’s & Low’s of last week (14/12/09 – 18/12/09)

High’s: 1.6412
Low’s: 1.6052

A movement of:2.24 %.

Difference on £200k

High: USD328,200
Low: USD321,040

Difference of: USD7,160

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

A further update will be added next week.

Regards




Jon Sermon
HiFX
 
1 - 1 of 1 Posts
Top