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GBP/USD Advances as Trump Threats Spook Markets

Last week’s high: $1.4291

Last week’s low: $1.4085

 

Trump Rhetoric Prompts Losses for the US Dollar

The Pound US Dollar exchange rate struck its highest levels since the Brexit referendum last week as geopolitical concerns weighed heavily on USD.

These concerns were even enough to offset some impressive US inflation figures, despite suggestions that they could lead to more aggressive monetary tightening from the Federal Reserve.

However the Pound’s advance was not without its own hurdles as weaker-than-expected industrial production figures dragged on the currency in the second half of the week.

 

USD Outlook: Robust Inflation and Wage Figures to Bolster Sterling?

Looking ahead the Pound may continue to strengthen over the coming week if the UK’s inflation and wage growth figures both print as robustly as forecast.

Meanwhile the US Dollar may look to advance at the start of the week if US retail sales rebound in line with expectations.

There will also be a number of speeches by Fed Policymakers dotted throughout the week, which may boost USD if they hint that the door may still be open for the Fed to raise rates three more times this year.

 

Key Events

16th April

13:30 US Retail Sales (Mar)

17th April

09:30 UK Unemployment Rate (Feb)

09:30 UK Wage Growth (Feb)

14:15 US Industrial Production (March)

18:40 US Fed Evans Speech

18th April

09:30 UK Inflation (Mar)

19th April

09:30 UK Retail Sales (Mar)

11:45 US Fed Mester Speech

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To keep up to date with the US Dollar, visit the USD blog in our Currency News section.

 

Arron Morris
Senior Currency Broker
T: 01442 892 065

 

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