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

Published: Tuesday, 13 September 2011 14:16 BST - Written by John Cameron

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

POUND STERLING

UK Inflation figures released this morning showed that the headline CPI rate of inflation rose again last month. However, the markets had expected this and the Pound has lost ground against most of the other sixteen most-actively traded currencies during today’s session as fears increase over the health of the UK’s housing sector. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.5805

The Greenback has consolidated its gains against the Pound and the Euro on the day, but has failed to push further forward against either of them. Fears over Italy’s creditworthiness are decreasing, leading to a day of moderate gains for global stocks, indicting an improvement in risk sentiment. Given this, the Dollar may have gone as far as it is going to go, for the time being at least. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1589

The Euro has found its feet today following a faltering start to the week. Investors have taken heart from the news that Italian policy-makers are in talks to sell a tranche of Italian bonds to the largest Chinese sovereign wealth fund. Commentators expect Italy’s parliament to give final approval to a stringent austerity package later today, so there could be further upside for the Euro later. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5323


With global stocks showing signs of recovery over the past twenty four hours, the Australian Dollar has made a small move forward against many of the other majors. However, last night’s NAB survey showed that domestic business sentiment was on the wane, meaning that the Aussie’s gains were limited. NEAR-TERM OUTLOOK – NEUTRAL.


SINGAPORE DOLLAR – The Pound Singapore Dollar exchange rate (GBP/SGD) is 1.9666

The GBP SGD rate dropped to a multi-year low of 1.9250 in the middle part of last week, but has recovered in the intervening period, largely thanks to the slump in Asian shares. Investors expressed their concern at the potential exposure of Singapore’s financial services companies to potentially toxic Eurozone sovereign debts by selling their shares and shifting assets into the safe haven of US T-bills. This has caused the Singie to weaken off. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


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