Currency Rate Predictions For The Pound Sterling, US Dollar, Euro and Singapore Dollar

Published: Thursday, 29 March 2012 18:00 BST - Written by Frank Davies

STORY LINK Currency Rate Predictions For The Pound Sterling, US Dollar, Euro and Singapore Dollar

Today brought two pieces of particularly ugly news for the POUND STERLING, with the release of more poor UK housing sector data and a report by the OECD which forecasted that the UK’s economy would slump back into recession in the first three months of 2012. This sees Sterling trading with a NEUTRAL bias, as investors were already pricing-in Britain’s fragile housing market and weak UK economic activity levels.

The EURO has leaked support against the Pound and the Greenback during today’s session. The single currency has been out of favour with market participants due to a weak showing from the most recent set of whole-of-eurozone Consumer Confidence survey figures. If tomorrow morning’s German Retail Sales numbers follow the pattern of recent data releases, then the euro could trade on a NEUTRAL TO NEGATIVE footing as the weekend market close approaches. The current GBP EUR exchange rate is 1.1993.

The US DOLLAR has held steady against the other majors on the day. This afternoon’s figures confirmed that the US economy expanded by almost 1% in the final quarter of 2011, whilst other lesser economies floundered. In the short-to-medium term, this may be detrimental to the Greenback, due to increased investor confidence. The Dollar heads into tomorrow’s session trading with a NEUTRAL bias. The GBP USD exchange rate stands at 1.5908.

The SINGAPORE DOLLAR remains a risk-tethered currency, meaning that wobbles in global appetite for risk hit it hard. This has lead to a poor performance from the Singie during this week’s session, as institutional investors shunned investments with a higher risk tariff. This has seen the GBP SGD exchange rate trade through the 2.00:1.00 level to touch 2.0061 today. The SGD is expected to trade on a NEUTRAL TO NEGATIVE footing in the short term.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts