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

Modified: Friday, 9 December 2011 14:18 BST - Written by John Cameron

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

POUND STERLING

Sterling outperformed all of the other sixteen most-actively traded currencies during today’s session, in spite of poor manufacturing and industrial output figures released earlier today. Chancellor George Osborne’s comments to the Treasury Select Committee this afternoon have helped steady the ship; Osborne announced that the government is looking at working in partnership with UK retail banks in order to make additional funds available to British businesses. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


US DOLLAR – The Pound Dollar exchange rate (GBP USD) is 1.5684

The Greenback has once again failed to push ahead in the currency markets, in spite of losses for European and North American shares on the session. This suggests that the negative correlation between the US Dollar and global appetite for risk is not as pronounced as it was a few months ago. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


EURO – The Pound Euro exchange rate (GBP EUR) is 1.1711

European Council President Herman Van Rompuy surprised the markets earlier today when he suggested that Eurozone policy-makers might be able to impose more stringent sanctions on indebted European states without changing the existing treaty. This could be good news for investors holding Euro-denominated assets – an ECB interest rate cut tomorrow lunchtime, which has been widely rumoured, would be far less welcome. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP AUD) is 1.5270


The Australian Dollar has held up well on the day in spite of a drop-off in global appetite for risk, as evidenced by a downward movement in stocks. The Aussie’s positive performance has been driven by last night’s domestic GDP figures which showed that economic activity is expanding by an annualised 2.5%. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


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

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predi Forecasts