Paloma's winds are increasing to 80 mph and it is moving north at 8 miles per hour. A hurricane warning remains in effect for the British Cayman Islands, where the category 1 hurricane may hit late Friday or early Saturday.
A hurricane watch was also issued for some parts of Cuba, with expectation that Paloma will arrive at the Caribbean island on Sunday, the National Hurricane Center said today.
Early Friday, around 7 a.m. Paloma was centered approximately 85 miles southwest of Grand Cayman.
According to forecasts, Paloma could develop into a Category 2 hurricane late today and increase to a Category 3 by Saturday.