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GBP vs USD currency overview for 25th February 2018Since Thursday afternoon, the Pound to US Dollar exchange rate has rebounded from its weekly lows, recovering slightly. As well as stronger demand for the Pound thanks to BoE speculation, the US Dollar’s recovery rally appeared to have already run out of steam.
Stronger demand for the Japanese Yen (JPY), one of the US Dollar’s biggest rivals, has weakened the US Dollar and made it easier for GBP/USD to recover from its lows.
Next week will see the publication of key US ecostats, including the latest Q4 Gross Domestic Product (GDP) projections, as well as January’s Personal Consumption Expenditure (PCE) results.
GBP vs USD trend analysis for 25th February
Both the long term (green line) and recent trends (blue line) show that GBP-USD is trending upwards.
As the Pound is generally strengthening against the USD, this means that you should receive more Pounds for every US Dollar.
However, as the recent trend is now weaker than the long term trend, the exchange rates between the GBP and the USD may be softening. Now may be a good time to buy US Dollars, depending on the exchange rates that you can achieve, but this weakening trend may indicate that exchange rates are starting to fall.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/USD exchange rates
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.