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All eyes on the Federal Interest Rate Decision Tonight (Tom Holian)
Sterling has touched close to 2 month highs vs the Euro and struggled to find where to go next vs the US Dollar in light of the US interest rate decision due tonight.
With US economic data having been mixed in recent weeks tonight’s Fed meeting will be crucial in determining how exchange rates will move over the next few days.
It is unlikely that the Fed will increase interest rates later as the global slowdown could mean that if there is a change this could be to the detriment of the US economy.
Indeed, China has cut interest rates twice over the last two months and the European Central Bank has hinted at further Quantitative Easing so any change could cause big movements for Sterling, Euro and the US Dollar.
In my opinion I think the Fed will still wait before the change policy but to me it is a matter of time and any discussions post the release could give hints as to when an interest rate hike will occur.
I think we’ll see the Dollar strengthen regardless of what happens tonight and this could send GBPEUR rates in an upwards direction and GBPUSD downwards.
If you have a currency transfer to make and want to save money on exchange rates then contact me directly for a free quote. Tom Holian [email protected] Providing your contact number on email and a brief outline of your requirement will ensure a quick response.
Source: http://www.poundsterlingforecast.com/2015/10/28/all-eyes-on-the-federal-interest-rate-decision-tonight-tom-holian/
