NewsCase StudiesEvents

Dollar falls as Fed signals end of rate hikes

Also in the news...

Carry out international road haulage

What UK goods vehicle operators need to do to carry out international road haulage.

Import firewood into England, Scotland or Wales

Find out how to import firewood, such as logs and kindling, into England, Scotland and Wales (Great Britain).

How to check if you can delay customs payments and declarations

If you’re a business that currently buys goods from or sells goods to countries outside the UK, or are planning to trade with Europe from January 2021, HMRC’s new tool can help you identify ways you might be able to make the customs process easier for cheaper for your business. This short video shows you how to use the tool.

How can a customs intermediary or agent help me?

If you’re a UK business thinking about moving goods into or out of the UK , this video is here to help you understand how customs intermediaries or agents can help you. For more information have a look at the guidance available on gov.uk.

What are commodity codes?

If you're buying or selling goods abroad, you need to work out the amount of duty or VAT you owe. This short video tells you how to find out the ‘commodity code’ classification for your goods, using our Trade Tariff tool. Find out more on GOV.UK

Dollar falls as Fed signals end of rate hikes

Back to News

There was big move in USD across the board yesterday as US Federal Reserve Chairman, Jerome Powell reset expectations of domestic monetary policy

At a speech at The Economic Club of New York, Powell painted a rosy picture of the current economic situation however stated that interest rates were “just below the range of estimates of that level that would be neutral for the economy that is neither speeding up or slowing down growth.” Although a hike in December is all but assured it appears the Fed is ready to pause hiking sooner than was previously expected. Markets now predict two hikes for next year instead of three with one hike being a 50/50 shot. The dovish statement saw the greenback dumped, likely to the pleasure of US President Donald Trump. USD/JPY has fallen from 114 to close to 113 and EUR/USD has bolted from around 1.1275 to make a play for the 1.14 handle. The Dollar Index which measures USD against a basket of other currencies fell from 97.5 to around 96.7. This evening sees the latest Federal Open Market Committee minutes released so there is the potential for further losses should this also carry a dovish tone


You are not logged in!

Please login or register to ask our experts a question.

Login now or register.