Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, NZD

Published: Monday, 21 November 2011 16:27 BST - Written by John Cameron

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

POUND STERLING

The Pound has performed poorly against all but the high-yielding currencies during today’s session. Prime Minister David Cameron warned delegats at the CBI Conference earlier today that the Eurozone debt crisis is having a ‘chilling effect’ on the UK’s economy. Market participants reacted by shifting their assets out of Sterling. NEAR -TERM OUTLOOK – NEUTRAL TO NEGATIVE.


US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.5647

The Greenback has powered forward against the rest of the sixteen most-actively traded currencies on the day. Investors remain concerned about Eurozone debts and this jumpiness has been accentuated by the specially-convened ‘super-committee’s’ failure to reach a debt deal in the States. NEAR-TERM OUTLOOK – POSITIVE.


EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1582

The Euro has found some support in the market today as investors take encouragement from the centre-right Popular Party’s victory in yesterday’s Spanish elections. With the market’s focus shifting away from Europe’s debt crisis as a new US debt stand-off takes shape, the Euro may be in for a few days of welcome respite. NEAR-TERM OUTLOOK – NEUTRAL.


NEW ZEALAND DOLLAR – The Pound New Zealand Dollar exchange rate (GBP/NZD) is 2.0958


As global equities markets see tens of billions of Dollars wiped from their values, the New Zealand Dollar continues to weaken dramatically. The heavily ‘risk off’ trading environment has seen investors turn against the Kiwi. If the US debt stand-off continues, then the GBP/NZD rate has the scope to trade significantly higher. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


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