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

25 Nov 2011 at 4 PM - Written by John Cameron

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

POUND STERLING

The Pound endured another relatively disappointing day on the markets. Bank of England Monetary Policy Committee member Martin Weale warned in a speech earlier today that the UK’s economic recovery would take as long as 5 years, adding to the pressure on Sterling. Investors were nonplussed by the UK government’s plans to ease British youth unemployment. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


US DOLLAR – The Pound Dollar exchange rate (GBP USD) is 1.5475

Global stocks had a rare day of gains on the day, causing the Dollar strength of the first four days of this week to dissipate. With no US data out today, movements in Asian equities markets in the early hours of Monday morning, If these follow the lead of European and US indices today, then the Dollar could start next week on the back foot. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


EURO – The Pound Euro exchange rate (GBP EUR) is 1.1677

Italy’s government was forced to pay a record 6.504% interest rate on 6-month bills at today’s auction, causing alarm amongst investors. This is extremely bad news for clients holding Euro-denominated assets; it would appear that the Eurozone’s sovereign debt crisis has the potential to flare up at any given time. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


NORWEGIAN KRONE – The Pound Norwegian Krone exchange rate (GBP NOK) is 9.1605

The GBP NOK exchange rate has steadily improved from its near-term low 8.6780, which it touched off on 27th October. This move has largely been due to intense concerns about stringent austerity measures by several Eurozone states, which could weigh heavily on Norway’s exporters. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


For other live currency exchange rates and a currency converter see the currency news website.

TAGS: American Dollar Forecasts Currency Predictions Euro Forecasts Norwegian Krone Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Norwegian Krone Forecasts Pound Sterling Forecasts