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Sterling Dollar Rates Rise as Fed Interest Rate Decision Looms (Tom Holian)
GBPUSD exchange rates have got close to the highest levels since February of this year as the Fed announce their interest rate decision this evening. The likelihood is that nothing till happen to interest rates as they are at historic lows but the question is whether or not the Fed will announce any changes to their economic policy.
This morning the Markit Manufacturing PMI data has been released. With a figure of 49.8 compared to an anticipated 48.5 means that the manufacturing news was better than expected which has helped give Sterling a lift against all other major currencies during this morning’s trading session so far.
there is a huge amount of data announced this afternoon in the US including employment news, manufacturing data and mortgage applications. I expect there to be a huge amount of volatility particularly for GBPUSD exchange rates this afternoon so if you have a currency requirement then get in touch with me via email and I’m confident that as a specialist currency broker I can save you money when buying USD compared to using your high street bank.
If you want to be kept updated with movements and you have a particular need to buy or sell currency please send me an email to Tom Holian [email protected] In the title of the email type in ‘FREE QUOTE’ and a brief explanation of your currency need.
The ECB are due to meet tomorrow and some analysts think that a rate cut may be announced at 1245pm. An interest rate cut could result in a weakening for the Euro so if you need to buy Euros make sure you keep an aye on the news early tomorrow afternoon. Inflation has been running low as of late in the Eurozone so a cut in interest rates could help to encourage consumer spending and therefore bring more confidence back into the region.
2013-05-01 06:08:35
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