US Interest Rates Tonight

28 July, 2011


Tonight the Federal Reserve’s FOMC announce the monthly interest rate change in the USA.

While the Fed currently has low interest rates at 0.25%, there is not much room for any further cuts. However, the accompanying statement is just as important, as it gives the central bank’s outlook for the US economy – which in turn is likely to affect US dollar exchange rates.

Money transfers to America have become more expensive recently, as the dollar rate has fallen from $2 last year, to below $1.40 to the Pound. A slight recovery in recent days has helped ease the pain.

If you do need to buy US dollars in the coming days, weeks, or months, make sure you speak to an expert currency broker who can help you keep the costs down as much as possible.