Pound To Euro Exchange Rate Forecast, US Dollar & Singapore Dollar Predictions

September 3, 2012 - Written by Frank Davies

STORY LINK Pound To Euro Exchange Rate Forecast, US Dollar & Singapore Dollar Predictions

Today’s session started on a positive note for the POUND STERLING, with the release of a stronger than anticipated UK PMI Manufacturing survey for August. Although the survey considerably bettered expectations, it showed that Britain’s manufacturing sector is still contracting. Hardly great news for the Pound ahead of Thursday’s Bank of England policy decision.

Meanwhile, this morning’s session also saw the eurozone’s PMI manufacturing survey for last month released and the contrast with its UK counterpart was marked. The Europe-wide survey showed that the collective output of the region’s manufacturing industries had unexpectedly shrunk last month. This ensured that the EURO remained under pressure throughout today’s session. Tomorrow morning’s eurozone Producer Price Index data has the potential to prove market-moving for the single currency. The current GBP EUR exchange rate stands at 1.2630.

The US DOLLAR has tested lower throughout today’s session, as investors continue to take Fed Chairman Ben Bernanke’s comments of last Friday as indicative of more US Quantitative Easing to come later this year. Even Saturday’s disappointing Chinese manufacturing figures have failed to take the edge off global investors’ appetite for risk on the day. However, the euphoria surrounding the possibility of more asset purchase in the States is by no means guaranteed to last. The GBP USD exchange rate stands at 1.5880.

The SINGAPORE DOLLAR has continued to leak support against Sterling over the past week, seeing the GBP SGD exchange rate retrace back up from its 2012 low in the 1.9300s which it reached in the early part of last month. The shift out of SGD-denominated assets has partly been driven by a general easing of appetite for risk from global investors during this period. The generally weaker tone of Chinese data in recent weeks has added to the downside pressure on the Singaporean currency. The current GBP SGD exchange rate sits at 1.9805.

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