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

December 12, 2011 - Written by John Cameron

POUND STERLING

Sterling has held up well against all but the safest of safe-haven currencies during today’s session in the markets. The main attraction of the Pound has been that it is not the Euro, as investors have put any thoughts of the UK being isolated in Europe to the back of their minds. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


US DOLLAR – The Pound Dollar exchange rate (GBP USD) is 1.5591

The safe-haven US Dollar has been the best performing of the sixteen most-actively traded currencies during today’s session. Global equities have once again tumbled on the day as market participants continue to fret about the lack of clear policy direction regarding the Eurozone debt crisis from European policy-makers. NEAR-TERM OUTLOOK – POSITIVE.


EURO – The Pound Euro exchange rate (GBP EUR) is 1.1826

Leading credit ratings agency Moody’s has heaped the pressure on the already beleaguered Euro, by reiterating that it is reviewing its debt rating for all major European states due to a "continued absence of decisive policy measures". Euro-negative sentiment has propelled the GBP EUR exchange rate to 1.1828, its highest level for over nine months. Technical downside is now possible for the pair. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


SWISS FRANC – The Pound Swiss Franc exchange rate (GBP CHF) is 1.4599
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The Franc has suffered a poor day in the markets as institutional investors trim their exposure to the Swiss currency ahead of Thursday’s SNB rate decision. Market rumours suggest that Switzerland’s central bank is seriously considering taking further action to actively weaken the Franc. The CHF has come under further selling pressure due to its interdependency with the heavily-indebted Eurozone. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


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