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Exchange Rate Gains Forecast - Pound Sterling vs Aus Dollar (AUD), NZ Dollar (NZD) & Canadian Dollar (CAD)

October 12, 2014 - Written by John Cameron

Friday's exchange rate trading session in the global markets brought pronounced price action for the UK's Pound Sterling (GBP) and other world leading currencies such as the Australian Dollar and the New Zealand Dollar.



exchange rate gains forecast for pound vs aus dollarThe British Pound is now forecast to climb against the Australian Dollar (AUD), New Zealand Dollar (NZD) and Canadian Dollar (CAD).

So how do the various key currencies fair as the markets open o Sunday evening?

The British Pound to Australian Dollar exchange rate converts at 1 GBP is 1.85082 AUD.
The Pound to Canadian Dollar exchange rate converts at 1 GBP is 1.80032 CAD.
The Pound to Euro exchange rate today is converting -0.01 per cent higher at 1.27277 GBP/EUR.
The Pound to New Zealand Dollar is +0.01 pct lower with a conversion rate of 1 GBP equals 2.05733 NZD.
The Pound Sterling to US Dollar conversion rate is -0.04 pct higher at 1.60695 GBP/USD.

Don't forget if you are waiting to find the best exchange rate for a currency transfer, then you're best bet is to set up your future rate order with a foreign exchange broker!

Asian Share Markets Slump On Poor Japanese Data

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Last week's Japanese Consumer Confidence Index for September was expected to show an improvement from August’s print of 41.2 as economic participants in Asia’s second most developed economy reacted positively to Shinzo Abe’s policy developments.

Investors therefore reacted with some shock when the result printed at 39.9 and the news added to the selling pressure which was already prevalent in Asia’s equities markets.

Tokyo’s headline Nikkei 225 slumped by 1.15% on the session, while Hong Kong’s Hang Seng ahead almost 2.0% on the day.

North / South Korea Tension Harm Risk Appetite

Elsewhere in Asia, geo-political tensions on the Korean Peninsula added to the flight to safety from investors on the session. The news that North and South Korean forces had exchanged fire across their land border added to the mood of gloom in the markets. The tense situation was accentuated by comments from the North Korean capital of Pyongyang warning that if South Korea did not act to control its political activists then there would be ‘catastrophic’ consequences.

Pound Sterling Forecast To Gain Vs Australian Dollar, New Zealand Dollar and Canadian Dollar



Meanwhile, concerns regarding a slowdown in global growth have provided a dismal backdrop to the worrisome geo-political events of the past 24hrs.

The International Monetary Fund’s warning that the world economy would expand at a slower pace than had previously expected caused a dip in appetite for risk during the middle part of the week and yesterday German export numbers, which showed at their lowest level for some five years, added to these fears.

The combination of factors this week has seen the closely-monitored CBOE VIX ‘Fear Index’ spike by over 6% since the New York trading session got underway a couple of hours ago.

Analysts forecast that the move away from risk is likely to send the Pound Sterling (currency:GBP) higher against the high-yielding Australian Dollar (currency:AUD), New Zealand Dollar (currency:NZD) and Canadian Dollar (currency:CAD) in the short term.
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