The fall of the GBP resulted in the UK retailers suffering one of the worst Januarys on record. Although the EURO is falling it maintains a steady fight against the dollar.
Jason Smiley from Forex-Rates.biz states “we are seeing the pound coming down from the historical 2 dollars to the pound to nearly 1.50 dollars to the pound”, and Jason goes on to say “this is welcoming news for companies in the US wanting to enter the UK market”.
We went on to ask Jason where he feels the dollar will be in 90 days to help Forex traders decide on what currencies to buy, and he goes on to mention “I see the dollar capping out at 1.45 dollars to the pound before the pound will start to recover and by the end of the year we will be looking at 1.70 dollars to the pound”.
In summary Forex-Rates.biz believes now is a time to invest in the dollar which will gain strength over the next 60 days before moving your investment over to the EURO and then possibly pound.
Forex-Rates.biz is a website aimed at the modest investor and you can learn more by visiting http://www.forex-