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Pound Euro + Rand Today - Latest GBP, EUR and ZAR Exchange Rate Forecasts, Conversions & Predictions

September 14, 2014 - Written by John Cameron

Currency News UK presents our latest British Pound Sterling (GBP), Euro (EUR) and South African Rand (ZAR) exchange rate forecasts and currency conversion rates and predictions.

Economists predict that the Pound Sterling (currency:GBP) may be set to record gains against the Commodity Dollars following news of fresh global sanctions against Russia.

- The Pound Sterling to Euro exchange rate is 1.25529 GBP/EUR.
- The Pound Sterling to US Dollar exchange rate is 1.62736 GBP/USD.
- The Pound Sterling to South African Rand exchange rate is 17.95027 GBP/ZAR.

Price action for the major global currency pairs during this afternoon’s session has been driven by a major announcement from the US government.

The news that Washington has introduced new far-reaching sanctions on Russian interests including the Sberbank, which is the former soviet state’s number one bank.

Other sectors which will suffer under the restrictions include companies in the defence and energy firms.

GBP/ZAR Rate Today

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The development saw investors shift out of risk-driven assets including the South African Rand (currency:ZAR), sending the Pound to Rand exchange rate Northwards to a fresh 1–month high at 17.9033 GBP/ZAR.

The pair had been loitering at a lowly 17.3031 as recently as Monday, but the shift away from risk coupled with the publication of opinion polls suggesting that a ‘No’ vote was once again the most likely outcome of next Thursday’s Scottish Independence referendum provided strong support for the pair.

A renewed upward move for the VIX fear index this afternoon reinforces the impression that investors consider the fresh sanctions on Russia to be a real threat to global economic activity.

The move off an intraday low of 13.43 to 13.93 earlier represented a gain of 3.72% and there could be further gains to come for VIX is the tit-for-tat sanctions between Moscow and the West escalate next week.

GBP/EUR Rate Today

Looking ahead, Tuesday’s UK Consumer Price Index inflation data is likely to be market-moving.

Last month’s version showed at a below expectations 1.6%, so it would appear a possibility that Sterling will spring a recovery on the back of a stronger showing.

Such a result could push the Pound to euro exchange rate Northwards towards its near-term high of 1.2700 GBP EUR.

Meanwhile the Bank of England minutes the next day will also be closely-monitored.

Last month saw the memos of the UK central bank’s monthly get-together reveal that, for the first time since Mark Carney became Governor of the Bank of England, the vote on interest rates was not unanimous.

If this month’s minutes reveal more than the two dissenters of last month, the look for Sterling to record further gains against the other major global currencies.

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