Foremost Currency Group

Make the most of your currency

Talk to our friendly team:+44 (0)1442 892060

Will Fed Speeches Boost USD?

Yesterday’s high: $1.3108

Yesterday’s low: $1.3031

Storms and Fed Resignation keep USD Down

The US Dollar fell by -0.5% against the Pound yesterday, owing to economic uncertainties and fears about Hurricane Irma.

In the former case, the resignation of Federal Reserve Vice Chair Stanley Fischer on Wednesday continued to rock the markets. Also preventing a US Dollar rally was the approach of Hurricane Irma, a category 5 weather system. The storm has already battered islands in the Caribbean and is expected to make landfall in Florida between Sunday and Monday. As well as threatening high levels of destruction, Irma also follows on the tail of Hurricane Harvey, which tore along the southern US coast at the end of August.

USD Outlook: Turbulence Possible on Today’s Fed Speeches

After two recent Fed speeches, central bank remarks will remain a strong US Dollar-influencer today. In particular, the Fed’s Esther George and Patrick Harker will both be talking this afternoon. George is considered a policy hawk, while Harker is more centrally aligned. If both policymakers point to monetary policy tightening in the future then the US Dollar could bounce back against the Pound.

On the UK side of the equation, manufacturing and industrial production reports and the national trade balance will be in focus. The production results are expected to prove varied, but a forecast-matching trade deficit expansion might leave the Pound down in the pairing.

Key Events

8th September

09:30 UK Industrial Production

09:30 Manufacturing Production

09:30 Construction Output

09:30 UK Trade Balance

13:15 US Federal Reserve George Speech

13:45 US Federal Reserve Harker Speech

If you need to make a USD transfer but don’t have an account with us, click here to get started.

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

© Copyright 2013 to 2017 | Foremost Currency Group Ltd | All rights reserved