Typically, there are two ways you can make the conversion.
CURRENCY RATES USD HOW TO
International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way,Įnsuring you get the best exchange rates on your currency requirements.Via CurrencyFair's Website How to Convert US Dollars to EurosĬonverting US dollars to euros is a fairly simple process. Like this piece? Please share with your friends and colleagues: Could a positive outcome shore up the Pound? Or will a lack of results to stabilise the mortgage market rattle GBP investors further? On Thursday Chancellor Kwasi Kwarteng will hold a meeting will UK banks to discuss rocketing mortgage prices. Additional signs of a tightening US labour market is likely to bolster the Fed’s resolve to hike interest rates and could see the US Dollar soar on Friday.Ī lack of UK data will likely see GBP investors focus on domestic headlines. Looking ahead to the end of the week, the Pound US dollar exchange rate could face pressure with the publication of the latest US non farm payroll figures.įriday’s data is expected to report the US economy continued to add a health number of jobs in September. GBP/USD Exchange Rate Forecast: Robust US Payroll Figures to Boost USD Demand? However, USD may have seen its upside limited by investors who were concerned of the long-term effects of aggressive monetary tightening could have on the US economy. I would say: not so fast.’Īs such, the US Dollar was lifted by investors expectations of another aggressive interest hike in the Fed’s next policy meeting. "onsiderable speculation already that the Fed could begin lowering rates in 2023 if economic activity slows and the rate of inflation starts to fall. On Thursday USD investors seemed particularly focused on hawkish comments made by the Federal Reserve.įed policymaker Raphael Bostic said on Wednesday that there was: As the war in Ukraine continued to escalate and recession fears pressured currencies, investors sort stability. This bolstering of USD is mostly in response to the bleak global economic outlook. Meanwhile the US Dollar (USD) was up against most of its peers on Thursday as risk aversion gripped investors, who flocked to the safe haven currency. US Dollar (USD) Firms amid Investor Risk Aversion As such, Sterling was severely dented on Thursday. This coupled with considerable Conservative party infighting over the last week has cast doubts over Liz Truss’s ability to successfully navigate the current financial crisis. ‘The large fiscal stimulus, announced without compensatory measures or an independent evaluation of the macroeconomic and public finances’ impact, and the inconsistency between fiscal and monetary policy stance given strong inflationary pressures, have in Fitch’s view, negatively impacted financial markets’ confidence and the credibility of the policy framework, a key long-standing rating strength.’ In a statement given by the Fitch on Thursday, the credit agency said: The budget, which was released without a forecast, while also undermining the aggressive monetary tightening being pursued by the Bank of England (BoE). This comes in the wake of weeks of Pound volatility following the release of the UK government’s controversial mini budget.
The Pound (GBP) fell against the majority of its peers on Thursday as the credit agency Fitch downgraded their UK credit outlook.įitch is the second agency to do so, following S&P in lowering its outlook for the UK’s AA- investment grade credit rating, from stable to negative. Pound (GBP) Under Pressure as the UK is at Risk of Credit Downgrade The Pound to US Dollar (GBP/USD) exchange rate was fell off a cliff on Thursday as the UK was threatened with a credit rating downgrade.Īt time of writing the GBP/USD exchange rate traded at around $1.1245, roughly down 1% from Thursday’s opening levels. GBP/USD Exchange Rate Plummets amid UK Credit Rating Concerns STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Plummets amid UK Credit Rating Fears
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