Weekly Market Headlines:
US instability grows as Trump continues to pressure the Federal Reserve (Fed) to cut interest rates, meanwhile the pound and the euro reach highs against the dollar.
- Trump’s talks on tariffs continue to dominate the markets and the dollar has weakened significantly vs both the euro and the pound. The GBP to USD rate has shifted 4.44% so far in April, that’s a $5,700 difference on a £100,000 transfer.
- Instability continues to impact the US economy with Donald Trump putting pressure on the Federal Reserve in particular the Chair Jerome Powell.
- So far, the GBP to EUR rate has fallen by 3 cents this month, that’s a difference of €3,000 on a £100,000 transfer.
- The European Central Bank cut interest rates last week, however this had little impact on the FX markets as it came as expected, it is clear that tariffs remain the talking point.
- Economic data will be dominated by the PMI reports for both Europe on Wednesday morning and the US on Thursday.
What does this mean for you? Exchange rates fluctuate based on these events. If you’re planning a transfer, keeping an eye on market movements can help you secure a better rate.
Get in touch with Lumon to speak to a dedicated currency specialist about your international money transfers. Call +44 (0)204 506 5672 to explore your options.
What’s happening this week?
EUR
- Wednesday: PMI report
USA
- Thursday: PMI report
