Pound drops to 4-month lows against Dollar

The US Dollar has shot up after a shock inflation reading. Inflation increased from 3.2% in February to 3.5% in March.

It might not sound like a big deal, but it’s a major plot twist.

We’re in a world where inflation is expected to be falling (fast), not going back up again.

Now it seems the US Federal Reserve has the luxury of sitting back and putting their feet up for while (markets were expecting a June cut).

As a result of Dollar strength, the GBP/USD rate has dropped to 4-month lows.

Hey, things can always be worse. The Japanese Yen just hit 34-year lows against the US Dollar! Ouch.

The tug of war between the Pound and Euro continues.

The Pound made some good ground early this week with a powerful surge on Monday and Tuesday.

But a retreat yesterday suggests the Euro team is fighting back (Heave!).

There’s plenty of volatility in exchange rates at the moment.

So what next, what should you do?

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Kind regards, 
David Evans 
Co-Founder of Cle France.

Cle France / Key Currency

Key Currency is the currency exchange department of Cle France Ltd, 'Cle' being the French word for 'Key', did you see what we did there?

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