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Currency Market News

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US Dollar exchange rate news
21 November 2014

The USD has by far been the strongest currency over recent months and is continuing to gain strength against all the major currencies. Due to the economic uncertainty in particular Europe and the UK. In recent months the USD is seen as a safe haven to investors and even more so now as the Federal Reserve stopped their bond buying scheme last month.  On top of that inflation came in higher than expected which was predicted to fall from 1.7% to 1.6% but stayed at 1.7% compared to the UK 1.3% and the Euro Zone 0.8%. This is good news for the USD as inflation figures have an effect on when interest rates will rise.

On top of this unemployment rate in the US fell to a low of 5.8% compared to UK 6% and Euro zone 11.5% . This coupled with higher inflation, the US is looking more and more likely that the USD interest rates will rise first, making the USD more attractive to investors.

The US Dollar is currently at its most expensive level against the Pound for over a year, with September 2013 the last time we saw money transfers to the USA this expensive. With economic uncertainty likely to continue, this could be a trend for the coming weeks, although the Pound could fight back if there is better news from the UK economy in the run-up to Christmas.

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