Daily Exchange Rate Predictions For The Pound Sterling, US Dollar, Euro And Norwegian Krone

Modified: Friday, 13 April 2012 14:56 BST - Written by Frank Davies

STORY LINK Daily Exchange Rate Predictions For The Pound Sterling, US Dollar, Euro And Norwegian Krone

The US DOLLAR has been well-supported in the currency markets on the day, following the release of disappointing Q1 Chinese GDP Growth numbers overnight, which triggered a move into safe haven currencies by institutional investors. Losses for global equities have helped the Greenback on the day and the USD is expected to trade on a NEUTRAL TO POSITIVE footing moving forward. The GBP USD exchange rate stands at 1.5936.


Higher than anticipated UK Producer Price Index numbers earlier today suggest that British inflation could make a comeback later in the year. However, this has failed to cause any significant support for the Pound, suggesting that market participants believe that there is little chance that the Bank of England will raise rates, in spite of the PPI data. Sterling heads into the weekend trading with a NEUTRAL TO NEGATIVE bias.


This morning’s German inflation data came in as per expectations, but the EURO has once again struggled to assert itself against the Dollar and the Pound on the day. The market remains concerned about Italian bond yields, which have once again risen during today’s session. The current GBP EUR exchange rate is 1.2145 and the single currency heads into next week’s session on a NEUTRAL TO NEGATIVE footing.


The NORWEGIAN KRONE has suffered significant downside during recent sessions, taking the GBP NOK exchange rate to 9.2044 today. The Norwegian currency has been under pressure thanks to ongoing debt fears in the eurozone and an easing of global wholesale oil prices. The Krone is expected to trade with a NEUTRAL TO NEGATIVE bias in the near-term.

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