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GBP vs USD currency overview for 18th August 2017
The Pound to US Dollar exchange rate trended near its August lows for most of yesterday, but investors were disappointed by the Federal Reserve’s latest meeting minutes, which helped GBP/USD recover in the evening.
The Fed’s latest minutes report indicated that policymakers were becoming increasingly concerned about recent US inflation reports, with some officials hinting that plans for more rate hikes should be delayed for now.
As a result, investors once again began to bet that the Fed would not hike US interest rates again before the end of 2017. Bets that rates will be left frozen until 2018 once again rose above 50%.
This update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/USD exchange rates
GBP/USD performance, 18th August 2017
This chart shows how the GBP is performing againt the US Dollar throughout the day.
The red line shows the opening exchange rate at the start of the day so that you can see if the current exchange rate is above, or below, yesterdays’ rate.
The GBP/USD exchange rate (1.2873) is higher than todays opening rate, so the Pound is stronger against the US Dollar compared to yesterday.
The long term chart at the top of this page shows how the GBP/USD exchange rate has performed over the last few months.
GBP/USD is scoring 67 (out of 100) on our trend strength indicator, which indicates that this currency pair is likely to be establishing a strong downwards trend.
Todays GBP/USD exchange rate summary
Highest exchange rate today: 1.2918
Lowest exchange rate today: 1.283
Opening exchange rate today: 1.2869
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.