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Tomorrow evening could be key for anyone looking to buy US Dollars due to the Federal Reserve releasing their intetrest rate decision at 7.15pm. Higher interest rates or the expectation of a rate increase in the near future could help boost the US Dollar and in turn increase the cost of sending money to the US.

Before then however, there is a string of influential data releases from the US, all of which may have an impact on GBPUSD exchange rates:

  • Producer Price Index figures (1.30pm)
  • Industrial Production (2.15pm)
  • Consumer Price Index figures (1.30pm tomorrow)
  • Housing Starts (1.30pm tomorrow)

Each of the above are expected to show improvements, which may in turn cause Dollar strength. If the figures are released as expected or better then we may witness GBP USD exchange rates slide as a result.