Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
5 Sep 2011 at 4 PM - Written by John Cameron
POUND STERLING
This morning’s UK PMI Services Survey showed the biggest contraction in British services industries for over ten years. This is bad news for the Pound, as the UK economy is heavily reliant on businesses operating in the services sector. Sterling badly needs Wednesday’s industrial prediction figures to better expectations to halt a further move downwards. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6103
The Greenback has strengthened in the currency markets today as investors scale back their appetite for risk over renewed fears that the Eurozone’s sovereign debt crisis is about to re-ignite. With the FTSE 100 down by over 3% on the day and the benchmark S&P 500 also suffering heavy losses, there could be further support for the US Dollar in the next 24 hours. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1414
A bad day for the Euro has seen the EUR USD rate head downwards to approach 1.4000 in the wholesale markets. Debt spreads on Spanish and Italian bonds started creeping up at the end of last week and have widened further on the day, raising worries over the creditworthiness of major Eurozone retail banks. This spells bad news for the Euro. NEAR-TERM OUTLOOK – NEGATIVE.
AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5254
Global appetite for risk has seeped away since the session re-opened today as market participants fret over the state of Spain and Italy’s finances. This has seen investors shy away from riskier high-yielding assets including the Australian Dollar, taking the GBP AUD rate briefly back above 1.5300. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
SWISS FRANC – The Pound Swiss Franc exchange rate (GBP/CHF) is 1.2627
The Swiss Franc has seen sustained support in the currency markets today as investors seek out a safe haven in anticipation of further problems for Eurozone sovereign states and retail banks in coming sessions. Franc strength is sure to displease the Swiss National Bank, but there would be little they could do to stop a torrent of support for the safe haven Franc if a major European retail bank went the way of Lehman Brothers. NEAR-TERM OUTLOOK – POSITIVE.
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, CHF
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
This morning’s UK PMI Services Survey showed the biggest contraction in British services industries for over ten years. This is bad news for the Pound, as the UK economy is heavily reliant on businesses operating in the services sector. Sterling badly needs Wednesday’s industrial prediction figures to better expectations to halt a further move downwards. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6103
The Greenback has strengthened in the currency markets today as investors scale back their appetite for risk over renewed fears that the Eurozone’s sovereign debt crisis is about to re-ignite. With the FTSE 100 down by over 3% on the day and the benchmark S&P 500 also suffering heavy losses, there could be further support for the US Dollar in the next 24 hours. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1414
A bad day for the Euro has seen the EUR USD rate head downwards to approach 1.4000 in the wholesale markets. Debt spreads on Spanish and Italian bonds started creeping up at the end of last week and have widened further on the day, raising worries over the creditworthiness of major Eurozone retail banks. This spells bad news for the Euro. NEAR-TERM OUTLOOK – NEGATIVE.
AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5254
Global appetite for risk has seeped away since the session re-opened today as market participants fret over the state of Spain and Italy’s finances. This has seen investors shy away from riskier high-yielding assets including the Australian Dollar, taking the GBP AUD rate briefly back above 1.5300. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
SWISS FRANC – The Pound Swiss Franc exchange rate (GBP/CHF) is 1.2627
The Swiss Franc has seen sustained support in the currency markets today as investors seek out a safe haven in anticipation of further problems for Eurozone sovereign states and retail banks in coming sessions. Franc strength is sure to displease the Swiss National Bank, but there would be little they could do to stop a torrent of support for the safe haven Franc if a major European retail bank went the way of Lehman Brothers. NEAR-TERM OUTLOOK – POSITIVE.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Australian Dollar Forecasts Canadian Dollar Forecasts Currency Predictions Euro Forecasts Pound Australian Dollar Forecasts Pound Canadian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts Pound Swiss Franc Forecasts Swiss Franc Forecasts
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