UK Office: 0044 (0)1440 820 358

Clé France

The French Property Network

US dollar weakens

Yellen’s speech weakens the US dollar significantly…

Janet Yellen's speech to the Economic Club of New York yesterday gave market participants a reason to sell the greenback. For the last month or so it's clear the Federal Reserve have stepped up their desire to reinforce the notion that future interest rate hikes are very much data dependant and reliant on solid global economic conditions.

So, how exactly did she cause damage for the US dollar?

US Dollar

Yellen mentioned two areas which are still niggling at the feet of the Fed, China and commodities. It's all well and good highlighting China again but this time we actually saw specifics, she detailed concern for their economy not only slowing down but struggling with the evolution from one reliant on exports to one seeking domestic sources of growth.

When it comes to commodities the main one the Fed have in mind is oil. Yes there's been a sizeable increase in the price which is a positive for inflation but the sector is volatile and one which the Fed cannot now simply discount as being 'temporary' in respect to its movements. Overall the speech seemed to have been focused around downside risks to the US economy. 

The key question on many client's minds - whether there could be a continuation of weakness for the USD. The short answer would be yes, however, one must respect the fact we are approaching key resistance levels for both GBPUSD and EURUSD.

These are the first hurdles which must be cleared before any moves higher can be discussed, plus, when jumping those hurdles the market must consider the EU referendum in the UK and a central bank in the eurozone desperate for a weaker not stronger euro.

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

Blog submitted by: Ben Amrany for The French Property Network - Cle France.

For everything you need to know about French property visit www.clefrance.co.uk


Comments
(Please login/register to leave a comment)
(There are no comments yet)

Quick Search

Minimum Beds/Baths

Price Range

Land in sq metres (1 acre = 4000M2)

Join the Mailing List

Select subscriber list :

Property of the Week

Property of the Week
 
Detached House with Character

Rural Setting, Normandy

Bargain Price Only 38,200 €