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

Published: Wednesday, 1 February 2012 18:00 BST - Written by John Cameron

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

POUND STERLING

A day of two halves for the Pound – this morning’s Nationwide House Price survey disappointed, showing a far lower annualised growth in prices than had been anticipated. On the upside, the PMI Manufacturing survey, also released this morning, showed that Britain’s manufacturing sector returned to growth last month. NEAR-TERM OUTLOOK – NEUTRAL.


US DOLLAR – The Pound Dollar exchange rate (GBP USD) is 1.5854

The Dollar has been outperformed by all of the other sixteen most-actively traded currencies on the day, following barnstorming performances from global stock indices. This afternoon’s ISM manufacturing survey for January hinted at a healthy improvement in the US’s manufacturing sector, helping share markets and hurting the safe haven Greenback. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


EURO – The Pound Euro exchange rate (GBP EUR) is 1.2009

Today’s Portuguese and German debt auctions saw positive uptakes by bond market participants, while the whole of eurozone CPI inflation figure printed as per expectations. However, the euro continues to labour in the markets due to investors fears over the continued absence of a Greek debt deal. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


SINGAPORE DOLLAR – The Pound Singapore Dollar exchange rate (GBP SGD) is 1.9802


The GBP SGD rate hit 1.9624 last week, its lowest rate since the middle of September, 2011. The Singie remains strongly tethered to risk and moved forward well during today’s session, however this leaves it firmly in the ‘at risk’ category thanks to the continuing lack of a resolution to Greece’s debt crisis. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.


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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts