The USD has strengthened on better than expected Retail Sales figures from February. However the downward revision to January’s sales could affect the sentiment from the Federal Reserve tomorrow.
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All eyes in the market will be to the FED tomorrow afternoon. They will likely keep rates on hold tomorrow but the sentiment and accompanying statement will show their thoughts on future rate rises throughout 2016. This will likely have huge implications for the GBP USD rate.
The Pound has weakened against the Euro today as the weaker stock markets mean people are investing in riskier, emerging markets and will likely be using cheaper Euros. Due to the Eurozone rate cut being cheaper than before, investment overseas by borrowing the Euro is on an up rise.
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