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Interbank Market rate - GBP/USD

Bid Ask
04:33
1.2976 / 1.2980
Low High
24h 1.2920 - 1.2987
Week 1.2920 - 1.3116
For information purposes onlyFor informational purposes only. Please read Terms of Use for further information.

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Daily Commentary

Monday, 26 September 2016

Joshua Hughes

United States Dollar:

Last week, the Fed maintained rates at 0.5%, leaving the probability of a hike in November at 19.3% (around the time of the Presidential election) and around 55% by the end of the year. Chair Yellen stated that the decision does not indicate a negative view on the US economy. Investors were left with mixed messages yet again, which in turn did little to establish sentiment as to the true value of the Dollar. Although the rate remained unchanged the Fed appears to be the only Central Bank establishing a hawkish stance to rate hikes allowing the USD to solidify its position as a global safe haven. This week’s calendar starts quietly with the first major release coming in the form of Consumer Confidence, due to fall from 101.1 to 98.6 on Tuesday. In terms of data releases, attention turns to Thursday’s final GDP q/q and unemployment claims. Both figures are expected to rise. Housing data, durable goods orders and PMIs are all also due out this week but are likely to take a back seat. The market will focus on speeches from key Fed members, most notably Fed Chair Yellen, speaking on both Wednesday and Thursday. Investors will look to see if Fed members contradict each other ... read more


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