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 Purefx_currency_exchange Personal Transfers Business Transfers Seller Transfers Get A Quote Register With Us Make A Transfer Trusted Brokers FCA Authorized Personal Service Contract Definitions Read Our Top Tips What Influences Exchange Rates Glossary Frequently Asked Questions Contact Us

USD Hits 10-Day High Versus GBP, as May's Brexit May "Kill" US Deal

Market CommentaryUSD Hits 10-Day High Versus GBP, as May's Brexit May "Kill" US Deal
USD Hits 10-Day High Versus GBP, as May's Brexit May "Kill" US Deal
Image credit: Mokra.

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

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

The greenback jumps versus sterling! The US dollar to pound interbank exchange rate has hit 0.7597 today, its highest in 10 days, or since July 3rd.

The US dollar has flown against the pound, because US president Donald Trump said yesterday that UK prime minister Theresa May's Brexit plans would "kill" a free trade deal with the US.

Sterling has weakened, in particular because, speaking to The Sun newspaper on Thursday, Mr. Trump added that Mrs. May's "soft" Brexit would affect UK-US trade "in a negative way".

What's more, Mr. Trump added that Mrs. May's rival and ex-foreign minister Boris Johnson would be a "great" prime minister, thus putting pressure on Mrs. May, and hurting the pound.

The US president's comments have weakened the pound, first because they're likely to exacerbate tensions between Mrs. May and the "Brexiteers" in her Conservative Party.

Mr. Trump's remarks have also dragged down sterling, because they tell us that, if the UK remains close to the EU after Brexit, this could make tougher a UK free trade deal with America!

US Dollar Strengthens, as US Inflation Hits 6-Year High

Moreover, the US dollar has also jumped against the pound, because US inflation, the pace at which prices are rising in America, hit a 6-year high in June, said official data yesterday.

The greenback has lifted, because US inflation touched 2.9% in June, according to the US Labor Department on Thursday, the highest since February 2012, and +0.1% higher than May.

This has boosted the buck, first because when US inflation accelerates, this tells us that America's economy is strong enough for businesses to charge consumers more for their wares.

This has also raised up the US dollar, because when US prices rise faster, it's likelier that America's central bank, the Federal Reserve, will hikes interest rates faster, above their current 2.0%.

When the Fed hikes interest rates, this puts a lid on inflation, yet simultaneously makes investing in US assets more profitable for money managers, thus boosting demand for the buck.

As a result, the US dollar to pound interbank exchange rate has hit this 10-day high today, and may continue to climb!

Get A Free US Dollar to Pound Exchange Rate Quote

Get a free US dollar to pound 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 US dollar to pound 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 Quote
Feefo service

What Our Clients Say

Read all the reviews at Feefo.com

Why Us

FCA Authorised E-Money institution

Authorised by the UK's Financial Conduct Authority, so you can rest assured that we’re handing your money responsibly.

Exceptional Service

We have received Feefo's Gold Trusted Service Award 3 years in a row.

Same Day Transfers

We can transfer your money to your destination bank account the same day you send it, once we’ve confirmed the payment details with you.

Competitive Exchange Rates

Competitive exchange rates and transparent transfer fees, so you know exactly what you’re paying for.

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

  • 1. Register

    for a no obligation account
  • 2. Agree the exchange rate

    with your account manager over the phone
  • 3. Send us payment

    for the transfer of your purchased currency
  • 4. We transfer the currency

    to your nominated account