Today?s Exchange Rate Predictions for the Euro, Pound Sterling, US Dollar and Japanese Yen

Published: Monday, 30 April 2012 18:00 BST - Written by John Cameron

STORY LINK Today?s Exchange Rate Predictions for the Euro, Pound Sterling, US Dollar and Japanese Yen

The EURO has enjoyed a steady day, which is good news following the heavy losses which it has incurred at times during the last few weeks. The single currency has been supported by Spanish GDP data, released this morning, which revealed that the troubled Iberian economy contracted by a smaller amount than had been anticipated in Q1. The current GBP EUR exchange rate stands at 1.2280 and the euro is expected to trade on a NEUTRAL footing ahead of Wednesday’s German unemployment data.


Today has seen relatively little price action for the POUND STERLING against the other majors, with Sterling losing a little ground against the safe-haven currencies and gaining slightly against the high yield / high risk currencies. Tomorrow morning’s UK PMI Manufacturing sector survey has the potential to come out below expectations, following last week’s disappointing UK Q1 GDP figure. This means that the Pound trades with a NEUTRAL TO NEGATIVE bias moving forward.


The US DOLLAR has fared well on the day, outperforming almost all of the other sixteen most-actively-traded global currencies. The Greenback has benefitted from weaker than expected US Personal Consumption data and disappointing Canadian GDP numbers, released this afternoon, which have served to take the edge off institutional investors’ appetite for risk. The GBP USD exchange rate stands at 1.6245 and the Dollar is expected to trade on a NEUTRAL TO POSITIVE footing in the near-term.


The JAPANESE YEN has put in a strong showing in the markets today, gaining against all of the other majors. The Japanese currency has re-affirmed its status a safe haven currency, as investors turned away from risk-laden plays and sought out low-yielding options for their investments. Last Friday’s announcement of further monetary-easing measures by the Bank of Japan has elicited a renewed surge of support for the JPY. The GBP JPY exchange rate stands at 129.9350 and the Yen is expected to trade with a NEUTRAL TO POSITIVE bias over coming sessions.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts