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2015 The year of the will they wont they on a US interest rate hike
30 November 2015

2015 saw the Greenback begin the year at a steady level plodding along and continuing the dollar’s slow but steady climb regaining some strength from January through to March. Due to the Greece debt crisis the USD then further strengthened as investors saw much concern around the Euro and put their money into the dollar giving tin a strong run in march, moving from 1.55 to 1.47 in a 2 week period. Throughout April the Dollar’s movements corrected and slowly moved back down to similar rates seen at the years start.

The rest of the year saw a lot of volatility for the US Dollar following the FED’s announcements of an interest hike on the cards which allowed it to make good gains against the pound and Euro.

Initially markets expected the US rate hike to happen before any other major economies and were rumoured to be announced as early as June, causing the USD to go from strength to strength against both the Pound and Euro. As the Federal committee were split between a potential rise in the summer whilst others suggested a rise would not be implemented until 2016, the USD remained in a prime position of strength for the remainder of the year with only market expectations on quarterly data releases causing an up and down movement on the rate.

Moving towards the end of this year, the USD has been improving and moving on a downward trend, reinforced by the ever anticipated interest rate hike decision which is now due to be announced next month. If confirmed next month,  we could expect the US Dollar to push ahead of the British Pound as the BOE has announced no plans to raise UK interest rates for at least another year, allowing the greenback to main significant gains over the GBP and EUR.

For those of you sending money to the USA, US Dollar exchange rates have therefore been falling, as the Dollar becomes more expensive heading towards a likely interest rate rise.

us dollar rates

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