Forex Forecast : Rate Predictions For GBP, USD, EUR, AUD, ZAR
8 Nov 2011 at 3 PM - Written by John Cameron
POUND STERLING
There was good news for investors holding Sterling-denominated assets with this morning’s release of UK Manufacturing Production data for September, which showed a surprise monthly increase in British manufacturing output. UK Industrial Production figures released at the same time came out less bad than had been anticipated, providing further good news for the Pound. NEAR -TERM OUTLOOK – NEUTRAL TO POSITIVE.
US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6085
The US Dollar has come under selling pressure today, as global investors breathe a collective sigh of relief that Greece looks set to avoid default, in the near-term at least. Fed Chairman Ben Bernanke is due to speak tomorrow and if he delivers a characteristically down-beat message on the state of the world’s economy, then the Greenback could claw back some of today’s lost ground. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1657
The Euro has threatened to break weaker at several stages during today’s session as investors continue to fret over the ever-widening interest rate spreads that Italy is having to pay in order to service its massive national debt. Things may improve for Europe’s single currency if/when Silvio Berlusconi is forced out as Italian Premier. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5562
The GBP AUD rate has enjoyed it second successive day of gains as market participants slowly price-in last week’s surprise interest rate hike by the RBA. Last Thursday’s 4-week high of 2.0354 looks a realistic near-term target, particularly if concerns persist over Italy’s debt situation. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
SOUTH AFRICAN RAND – The Pound South African Rand exchange rate (GBP/ZAR) is 12.6546
The Rand has made a come-back on the currency markets today, outperforming all of the other 16 most-actively traded currencies on the session. The Rand has benefitted from a pick-up in global risk sentiment, as evidenced by the forward move in equities markets this week. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
For other live currency exchange rates and a currency converter see the currency news website.
STORY LINK Forex Forecast : Rate Predictions For GBP, USD, EUR, AUD, ZAR
Forex Forecast : Rate Predictions For GBP, USD, EUR, AUD, ZAR
There was good news for investors holding Sterling-denominated assets with this morning’s release of UK Manufacturing Production data for September, which showed a surprise monthly increase in British manufacturing output. UK Industrial Production figures released at the same time came out less bad than had been anticipated, providing further good news for the Pound. NEAR -TERM OUTLOOK – NEUTRAL TO POSITIVE.
US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.6085
The US Dollar has come under selling pressure today, as global investors breathe a collective sigh of relief that Greece looks set to avoid default, in the near-term at least. Fed Chairman Ben Bernanke is due to speak tomorrow and if he delivers a characteristically down-beat message on the state of the world’s economy, then the Greenback could claw back some of today’s lost ground. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1657
The Euro has threatened to break weaker at several stages during today’s session as investors continue to fret over the ever-widening interest rate spreads that Italy is having to pay in order to service its massive national debt. Things may improve for Europe’s single currency if/when Silvio Berlusconi is forced out as Italian Premier. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5562
The GBP AUD rate has enjoyed it second successive day of gains as market participants slowly price-in last week’s surprise interest rate hike by the RBA. Last Thursday’s 4-week high of 2.0354 looks a realistic near-term target, particularly if concerns persist over Italy’s debt situation. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.
SOUTH AFRICAN RAND – The Pound South African Rand exchange rate (GBP/ZAR) is 12.6546
The Rand has made a come-back on the currency markets today, outperforming all of the other 16 most-actively traded currencies on the session. The Rand has benefitted from a pick-up in global risk sentiment, as evidenced by the forward move in equities markets this week. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.
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 Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Rand Forecasts Pound Sterling Forecasts South African Rand Forecasts
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