{"id":3571,"date":"2017-05-16T00:00:00","date_gmt":"2017-05-16T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100030-usd-hit-trump-concerns-gbp-up\/"},"modified":"2017-05-16T00:00:00","modified_gmt":"2017-05-16T04:00:00","slug":"100030-usd-hit-trump-concerns-gbp-up","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100030-usd-hit-trump-concerns-gbp-up\/","title":{"rendered":"GBP\/USD Trump Concerns Hit the Dollar and Boosts GBP"},"content":{"rendered":"<p>Another day in the White House and another controversy hits Trump, pulling the dollar lower and pushing the pound-U.S. dollar exchange rate higher. The latest story, accuses President Trump of sharing classified military information with the Russians in the Oval Office.<\/p>\n<p>The past few weeks have seen numerous controversies hit the white house and as the list grows longer doubts are starting to be cast as to whether Trump will even last his first term. Even if he does survive though, it seems the possibility of him successfully pushing through his economic stimulus programme may have taken a hit.<\/p>\n<h3><a href=\"#why-the-dollar-cheered-trump-s-victory\" name=\"why-the-dollar-cheered-trump-s-victory\"><\/a>Why the dollar cheered Trump\u2019s victory<\/h3>\n<p>The dollar rallied significantly on Trump winning the U.S. Presidential elections, primarily because of his pro-business expansionary policies like corporate tax cuts and infrastructure spending. A sizeable corporate tax cut could cause a flood of money to be repatriated to the USA, which would then create a high demand for the currency and in turn increase its value versus other currencies. Whilst infrastructure spending in a country already close to full employment would push wages higher, it can also lead to more spending thus boosting inflation. This would then lead to higher interest rate expectations and a higher demand for the currency.<\/p>\n<p>The dollar\u2019s reaction to Trump\u2019s controversies highlights the growing uncertainty that the President will be able to deliver on his expansionary plans and this has weakened the dollar across currency exchange rates. Subsequently, this has resulted in the pound-us dollar exchange rate moving higher, a surprise given the general weakness in the pound today compared to other currencies.<\/p>\n<h3><a href=\"#sterling-weak-as-cost-of-living-increases-2-7-in-uk\" name=\"sterling-weak-as-cost-of-living-increases-2-7-in-uk\"><\/a>Sterling weak as cost of living increases 2.7% in UK<\/h3>\n<p>The pound was also having a weak day, albeit stronger than the dollar, after UK data showed that the cost of living had soared 2.7% over the past year. This is significantly higher than the Bank of England\u2019s target level of 2% and whilst this movement would usually result in an increase in the value of sterling, as interest rates would be expected to increase sooner, today, sterling dropped in value.<\/p>\n<p><small><em><br \/>\nThis publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Inc., Currency Live or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Consult our <a href=\"https:\/\/currencylive.com\/risk-warning\/\">risk warning<\/a> page for more details.<\/em><\/small><\/p>\n<p><small><em>This article was initially published on TransferWise.com from the same author. The content at Currency Live is the sole opinion of the authors and in no way reflects the views of TransferWise Inc.<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another day in the White House and another controversy hits Trump, pulling the dollar lower and pushing the pound-U.S. dollar exchange rate higher. The latest story, accuses President Trump of sharing classified military information with the Russians in the Oval Office. The past few weeks have seen numerous controversies hit the white house and as [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3093,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1394,1398],"class_list":{"0":"post-3571","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-gbp","10":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD Trump Concerns Hit the Dollar and Boosts GBP - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/100030-usd-hit-trump-concerns-gbp-up\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100030-usd-hit-trump-concerns-gbp-up\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100030-usd-hit-trump-concerns-gbp-up\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD Trump Concerns Hit the Dollar and Boosts GBP\",\"datePublished\":\"2017-05-16T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100030-usd-hit-trump-concerns-gbp-up\\\/\"},\"wordCount\":515,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100030-usd-hit-trump-concerns-gbp-up\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100030-usd-hit-trump-concerns-gbp-up.jpg\",\"keywords\":[\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100030-usd-hit-trump-concerns-gbp-up\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100030-usd-hit-trump-concerns-gbp-up\\\/\",\"name\":\"GBP\\\/USD Trump Concerns Hit the Dollar and Boosts GBP - 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