Currency Rate Predictions For The Pound Sterling, Euro, US Dollar and Japanese Yen For Today

Published: Thursday, 5 April 2012 16:00 BST - Written by Frank Davies

STORY LINK Currency Rate Predictions For The Pound Sterling, Euro, US Dollar and Japanese Yen For Today

The Bank of England maintained its current policy stance earlier today, meaning that UK interest rates remain on hold at their record low of 0.50% and there is no extension to the Bank’s QE scheme. The POUND STERLING heads towards Easter on a NEUTRAL TO POSITIVE footing in spite of weak manufacturing sector data released earlier today.


The release of more disappointing economic data from German, this time in the form of February’s Industrial Production figures, have held back the EURO during today’s session, taking the GBP EUR exchange rate to 1.2138 – the pair’s highest level since January. Combined with persistent fears about the spiralling yields on several eurozone states’ bonds, the single currency heads into tomorrow trading with a NEGATIVE bias.


The US DOLLAR enjoyed limited gains against the other majors during today’s session, as global stock indices gave up ground. Fears over the situation in Syria added to the ‘risk-off’ trading environment, following a warning from the UN Security Council to the rogue state’s leaders that they should keep to a deadline of 10th April to withdraw military personnel from urban areas. The Greenback is expected to trade on a NEUTRAL TO POITIVE footing ahead of tomorrow’s key Non-Farm Payrolls release.


The JAPANESE YEN has suffered another losing day against the Pound today, taking the GBP JPY exchange rate to its current level of 130.35. The week had started with bad news for the Japanese economy, with the release of a weak set of Tankan Manufacturing survey results. This triggered a safe-haven move into Yen-denominated assets in the early part of the week, however, the Japanese currency is now expected to trade with a NEUTRAL TO NEGATIVE bias in the near-term.

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