Today?s Currency Rate Predictions For The US Dollar, Pound Sterling, Euro and South African Rand

Published: Monday, 26 March 2012 18:00 BST - Written by Frank Davies

STORY LINK Today?s Currency Rate Predictions For The US Dollar, Pound Sterling, Euro and South African Rand

Global share markets continued their recovery of last Friday during today’s session and the US DOLLAR lost ground against the other majors as a consequence, taking the GBP USD exchange rate to its current level of 1.5937. This afternoon’s stronger than expected annualised US Pending Home Sales data further improved investor sentiment, taking the Greenback lower still. The Dollar is expected to trade to a NEUTRAL TO NEGATIVE bias moving into tomorrow’s session.

Another blank day for UK data releases saw the POUND STERLING drift in the currency markets. Tomorrow’s Nationwide House Price Survey could alter this. Given the limp British housing sector data of recent times, a Sterling-positive outcome would appear unlikely, leaving the Pound trading on a NEUTRAL TO NEGATIVE footing in the near-term.

A strong showing for this morning’s German IFO Business Sentiment survey has helped the EURO on the day. The re-iteration by German Chancellor Angela Merkel during an interview earlier today that she would strongly oppose Greece exiting the eurozone, has elicited further support for the single currency, taking the GBP EUR exchange rate to 1.1957. If tomorrow morning’s German GfK Consumer Confidence survey builds on today’s positive IFO Business survey, then the euro could head into the middle part of this week’s session on a NEUTRAL TO POSITIVE note.

The SOUTH AFRICAN RAND been out of favour in the currency markets over the past week, as investors shunned risk thanks to renewed concerns over the effect that the West’s ongoing sanctions against Iran will have on global oil prices and by dint, the world economic recovery. Poor data releases for the US since the start of last week have heaped further pressure on the risk-sensitive Rand. A slight improvement in stock markets over the past two sessions sees the Rand trade on a NEUTRAL footing. The current GBP ZAR exchange rate is 12.1016.

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 Currency Predictions Dollar Poun Forecasts