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

9 Jan 2012 at 4 PM - Written by John Cameron

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

POUND STERLING

No UK data releases of note meant a day in the doldrums for the Pound today. In a quiet week ahead, Thursday’s Bank of England monetary policy decision and NIESR GDP Estimate are likely to provide the highlights for investors holding Sterling. In the meantime, the Pound may benefit from the fact that it isn’t the Euro. NEAR-TERM OUTLOOK – NEUTRAL.


US DOLLAR – The Pound Dollar exchange rate (GBP USD) is 1.5438

The US Dollar has failed to make up any significant ground against the other majors on the day, in spite of disappointing performances from the world’s leading stock indices on the day. The US Dollar’s progress is being hampered by the positive nature of recent US data releases and in particular last Friday’s Non-Farm Payroll figure. NEAR-TERM OUTLOOK – NEUTRAL.


EURO – The Pound Euro exchange rate (GBP EUR) is 1.2116

The Euro has endured another difficult session, which saw the GBP EUR exchange rate break to 1.2163, another new 16-month high, in spite of better-than-anticipated German export data. Europe’s single currency was held back by policy-makers’ ongoing failure to resolve the region’s debt crisis, as German Chancellor Angela Merkel and French President Nicolas Sarkozy met in Berlin today, for the first of what is likely to be many meetings this year. NEAR-TERM OUTLOOK – NEUTRAL.


SINGAPORE DOLLAR – The Pound Singapore Dollar exchange rate (GBP SGD) is 2.0026

The GBP SGD rate ended last week at below the key 2.0000 level for the first time since last October. However, the pair has traded back above this level during today’s session. A failure to close below the 2.0000 level on the day would send out a significant bullish signal for GBP SGD. If equities markets in Singapore once again lose ground in tonight’s session, then that would appear to be a likely outcome. 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 Pound Dollar Forecasts Pound Euro Forecasts Pound Singapore Dollar Forecasts Pound Sterling Forecasts Singapore Dollar Forecasts