Daily Currency Exchange Rate Forecasts For The Pound Sterling, US Dollar, Hong Kong Dollar And Euro

August 22, 2012 - Written by John Cameron

STORY LINK Daily Currency Exchange Rate Forecasts For The Pound Sterling, US Dollar, Hong Kong Dollar And Euro

The US DOLLAR has staged a comeback in the markets during today’s session, thanks to the return of a ‘risk-off’ trading environment. Last night’s Japanese trade figures raised fresh concerns about a potential global slowdown. These fears were added to by Greek Prime Minister Antonis Samaras’ appeal for ‘more time’ in order to action austerity measures in his debt-addled state. The GBP USD exchange rate stands at 1.5795.

The EURO’s recent improved performance looks set to be tested in the near-term, thanks to Greece’s plea to ease the terms of its bail-out package. The single currency had been performing well this week following Spain’s successful bond auction. Even with the worrying words from Greece’s policymakers, the short-term trend for GBP EUR remains to the downside. The current GBP EUR rate is 1.2685.

The POUND STERLING has suffered from another day of drift on the markets today. With the next data release of note not due until Friday’s UK GDP figure, the period of calm could be set to continue for Sterling. On the Brightside, the Pound has registered pronounced gains against the higher-yielding currencies, due to a drop-off ion appetite for risk.

The HONG KONG DOLLAR has eased slightly against the Pound during today’s session, taking the GBP HKD exchange rate to 12.2560. Increasingly open currency trading between China and the rest of the developed world, should add up to increased movement of funds through Hong Kong, benefitting the HKD in the medium term. However, the ongoing loose peg between the Hong Kong currency and its US counterpart has counteracted this positive effect in recent weeks.

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