Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, ZAR

Published: Thursday, 11 August 2011 14:23 BST - Written by John Cameron

STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, ZAR

POUND STERLING

No UK data releases on the day meant steady trading for the Pound. Risk-driven movements in other currencies have determined the levels on Sterling pairs as investors wait for next Tuesday’s key UK CPI inflation figure to provide further direction. NEAR-TERM OUTLOOK – NEUTRAL.


US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6190

The Dollar has pushed forward on the day as investors look for a safe haven to protect them against further losses in global share markets. With The Bank of Japan and the Swiss National Bank acting to weaken their respective currencies, the Greenback is the natural choice. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1403

The Euro has weakened through today’s European session as investors continue to fear the worst for France’s highly-exposed retail banking sector. A gloomy ECB monthly report, released this morning, stating that recent Eurozone data releases had suggested a downside risk to growth has not assisted Europe’s single currency. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5812


Support for the Aussie has ebbed and flowed wildly over the last 24 hours as global stock markets struggled for direction. Last night’s labour market figures for July showed that the Australian unemployment rate is at its highest level for eight months, but price action for the AUD is likely to be determined by global risk sentiment rather than domestic data for the foreseeable future. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


SOUTH AFRICAN RAND – The Pound South African Rand exchange rate (GBP/ZAR) is 11.7805

The Rand has been hammered in the currency markets over the last week as global appetite for risk dropped through the floor. With interest rates of 5.5%, the ZAR has suffered as world stock markets suffered their heaviest losses in years, seeing the S&P 500 lose over 15% of its value. NEAR-TERM OUTLOOK – NEAGTIVE.


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