Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, JPY
4 Aug 2011 at 2 PM - Written by John Cameron
POUND STERLING
As expected, the Bank of England announced earlier today that it would be maintaining UK interest rates at 0.50% and that it would not extend the £200bn of assets currently committed to it quantitative easing scheme. The market’s response to the news was subdued, to say the least. NEAR-TERM OUTLOOK – NEUTRAL.
US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6352
The Dollar has been the ‘Comeback Kid’ of the currency markets so far today following its recent poor run, enjoying gains of around 0.50% against the Pound and 1% against the Euro. With increasing fears over Eurozone sovereign debts sending share markets lower and market participants moving out of the Yen and Swiss Franc, the Dollar has been the beneficiary. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1519
The Euro has come under heavy selling pressure in this afternoon’s European session. The market has moved against Europe’s single currency after the ECB elected to keep its key lending rate at 1.5%. Comments by ECB President Jean-Claude Trichet stating that downside risks to European economic growth have intensified over the last month have further suppressed the Euro. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5427
The Australian Dollar has once again come under selling pressure on the day. An open letter from European Commission President Jose Manuel Baroso to European governments warning that the Eurozone debt crisis is spreading has caused heavy losses for equities markets, causing demand for high-yielding currencies to fall away. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
JAPANESE YEN – The Pound Japanese Yen exchange rate (GBP/JPY) is 129.75
The Yen has plummeted on the markets today as the Japanese government stepped in to sell Yen from its reserves on the currency market in order to weaken the currency. The downside pressure on the Yen intensified this afternoon when the Bank of Japan announced that it was set to expand its bond purchase scheme, sending the GBP JPY rate 3% at one point eralier. NEAR-TERM OUTLOOK - NEGATIVE.
For other live currency exchange rates and a currency converter see the currency news website.
STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, JPY
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, JPY
As expected, the Bank of England announced earlier today that it would be maintaining UK interest rates at 0.50% and that it would not extend the £200bn of assets currently committed to it quantitative easing scheme. The market’s response to the news was subdued, to say the least. NEAR-TERM OUTLOOK – NEUTRAL.
US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6352
The Dollar has been the ‘Comeback Kid’ of the currency markets so far today following its recent poor run, enjoying gains of around 0.50% against the Pound and 1% against the Euro. With increasing fears over Eurozone sovereign debts sending share markets lower and market participants moving out of the Yen and Swiss Franc, the Dollar has been the beneficiary. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1519
The Euro has come under heavy selling pressure in this afternoon’s European session. The market has moved against Europe’s single currency after the ECB elected to keep its key lending rate at 1.5%. Comments by ECB President Jean-Claude Trichet stating that downside risks to European economic growth have intensified over the last month have further suppressed the Euro. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5427
The Australian Dollar has once again come under selling pressure on the day. An open letter from European Commission President Jose Manuel Baroso to European governments warning that the Eurozone debt crisis is spreading has caused heavy losses for equities markets, causing demand for high-yielding currencies to fall away. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
JAPANESE YEN – The Pound Japanese Yen exchange rate (GBP/JPY) is 129.75
The Yen has plummeted on the markets today as the Japanese government stepped in to sell Yen from its reserves on the currency market in order to weaken the currency. The downside pressure on the Yen intensified this afternoon when the Bank of Japan announced that it was set to expand its bond purchase scheme, sending the GBP JPY rate 3% at one point eralier. NEAR-TERM OUTLOOK - NEGATIVE.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predictions Euro Forecasts Japanese Yen Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts Pound Yen Forecasts
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