Pure FX Logo arrow Reviews On Feefo Pure FX Logo Exemplary Service In-Depth Knowledge We're Jargon Free Same-Day Transfers Better Exchange Rates No Commission 0 Personal Transfers Business Transfers FCA Authorized Personal Service Trusted Brokers Get A Quote Register With Us Make A Transfer Seller Transfers Contract Definitions Read Our Top Tips What Influences Exchange Rates Glossary Frequently Asked Questions Contact Us

GBP Nears 1-Week High Vs USD, as Trump "Not Thrilled" by Fed Hikes

Market CommentaryGBP Nears 1-Week High Vs USD, as Trump "Not Thrilled" by Fed Hikes
GBP Nears 1-Week High Vs USD, as Trump "Not Thrilled" by Fed Hikes
Image credit: Boogaloo Shrimp.

Welcome to Pure FX's latest update of the pound to US dollar interbank exchange rate.

This tells you when it's an excellent time to exchange pounds to US dollars, for your money transfer!

Sterling bounces back versus the greenback! The pound to US dollar interbank exchange rate has hit 1.3151 today, its highest in close to 1 week, or since July 17th.

The pound has strengthened against the US dollar, because US President Donald Trump has said in an interview that he's "not thrilled" that the Federal Reserve is lifting interest rates.

The greenback has weakened, because Mr. Trump told CNBC's Joe Kernen last week that "I am not happy" about America's central bank hiking interest rates above their current 2.0%.

Mr. Trump added that "I don’t like all of this work that we’re putting into the economy and then I see rates going up," thereby dragging down the buck on the currency markets.

This has weighed on the US dollar, because Mr. Trump's Trump's remarks raise the odds that the Fed will keep US interest rates low, thus making investing in the USA less profitable.

This has also hurt the greenback, because the US President's comments lift the chances that America's economy will overheat, if the Fed doesn't take action to raise borrowing costs!

US Dollar Declines, as Trump Threatens $500bn Tariffs on China

What's more, the pound to US dollar interbank exchange rate has also neared this 1-week high, because President Trump has threatened to impose a full $500bn of tariffs on China.

The US dollar has lost out, because speaking to CNBC's Joe Kernen last week, Mr. Trump said that "I'm ready to go to 500", the full amount that China imported to the USA last year.

Mr. Trump comments have weakened the greenback, because they tell us that the US President is prepared to greatly escalate his trade conflict with China, if he sees fit.

The US President's remarks have also dragged down the buck, because if Mr. Trump imposes $500bn of tariffs on China, China's goods in America will be costlier, thus a tax on Americans.

"Increasingly it looks difficult to duck trade blowback," according to Mizuho Bank's Vishnu Varathan, as Mr. Trump keeps ratcheting up his anti-China trade rhetoric, thus hurting the US dollar.

Given all this, the pound has reached this 1-week high versus the greenback, and could fly higher in coming weeks!

Get A Free Pound to US Dollar Exchange Rate Quote

Get a free pound to US dollar exchange rate quote to get our best exchange rate, and find out how much you could save with Pure FX.

You’ll get an outstanding pound to US dollar exchange rate for your money transfer!

Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email peter.lavelle@purefx.co.uk.

Get A Free Quote
I’d like to exchange...
Because I want to...
And I would like it...
Pure FX awarded Feefo Gold Trusted Merchant 2016PureFX's Product Rating on Feefo

What Our Clients Say

Read all the reviews at Feefo.com

Why Us

FCA Authorised

Directly authorised by the UK's Financial Conduct Authority, so your money is highly secure.

No Hidden Fees & 0% Commission

So you get our biggest possible saving when you exchange currencies.

Same Day Transfers

Receive your money in your destination bank account the same day you send it, for most mainstream currencies.

Outstanding Exchange Rates

Get bigger savings, with Pure FX's best exchange rate guaranteed!

Dedicated Personal Service

To guide you through the transfer process, and keep you up-to-date with the changing exchange rates.

Trusted Foreign Exchange Broker

Since we were established in 2006, we've transferred money for thousands of satisfied clients.

How It Works

  • Quote

    Use our form to get a free exchange rate quote, and find out how much you could save with Pure FX.
  • Register

    We'll be in touch to give you your exchange rate quote, ask you any further questions and tell you how the transfer process works.
  • Transfer

    From buying a property abroad, to making business transfers, or online selling - we have you covered.