Forecasts: Pound, Euro, US Dollar & NZ Dollar Exchange Rate Predictions and GBP EUR USD & NZD conversions

November 12, 2014 - Written by John Cameron

STORY LINK Forecasts: Pound, Euro, US Dollar & NZ Dollar Exchange Rate Predictions and GBP EUR USD & NZD conversions

Currency News UK presents our latest Pound Sterling (currency:GBP) forecasts against the euro (currency:EUR), US Dollar (currency:USD) and New Zealand Dollar (currency:NZD) below.

The POUND STERLING (currency:GBP) took a hit during this morning’s session following some worrying forecasts regarding the UK economy by the Bank of England (BoE) Governor Mark Carney.

The BoE Chief issued a warning to the markets that the rate of British inflation might drop below the 1.0% threshold between now and Easter.

He also announced a cut in his Bank’s GDP growth forecast for next year, meaning that the outlook for Sterling is now NEUTRAL.

The latest GBP exchange rates today:

The Pound to Australian Dollar exchange rate converts -1.11 per cent lower at 1 GBP is 1.80924 AUD.
The Pound to Canadian Dollar exchange rate converts -1.13 per cent lower at 1 GBP is 1.78489 CAD.
The Pound to Euro exchange rate converts -0.65 per cent lower at 1 GBP is 1.26825 EUR.
The Pound to New Zealand Dollar exchange rate is -1.58 pct lower with a conversion rate of 1 GBP equals 2.00361 NZD.
The Pound to US Dollar exchange rate today is converting -0.99 per cent lower at 1.57671 GBP/USD.

Euro Exchange Rate Forecast: Improves On Industrial Production Data

The EURO (currency:EUR) bit chunks out of the Pound Sterling during trading today following the publication of a stronger than anticipated set of regional Industrial Production data.

Tomorrow could be a big day for the single currency, bringing the release of the latest German inflation figures as well as the ECB Monthly Report.

A strong showing from both would see the euroland’s tender strengthen further, however analysts still predict that the Euro is forecast to perform with a NEGATIVE bias moving forward. The GBP EUR exchange rate stands at 1.268.

US Dollar Rate Forecast: USD Gains to Continue

The US DOLLAR (currency:USD) has recorded further gains against Sterling this afternoon, sending the GBP USD exchange rate down into the 1.5700s.

With the price of a barrel of crude remaining at an ultra-low level, the Buck is likely to continue on its positive trajectory against the other major global currencies.

America remains by far the largest net importer of crude oil in the world, so the outlook for the Greenback is still NEUTRAL TO POSITIVE. The current GBP USD exchange rate stands at 1.5803.

New Zealand Dollar Exchange Rate Forecast: NZD Climbs vs GBP, USD and EUR

Support for the NEW ZEALAND DOLLAR (currency:NZD) has surged so far today, sending the GBP NZD exchange rate down to within a fraction of a cent of the two to one threshold.

The NZ Dollar has improved in spite of comments earlier from the Reserve Bank of New Zealand (RBNZ) Governor Graeme Wheeler stating that the domestic property market in NZ is not entering ‘bubble territory’.

Investors weren’t convinced and still believe that an interest rate hike will be required sooner rather than later from the RBNZ. The outlook for the Kiwi is NEUTRAL TO POSITIVE and the GBP NZD exchange rate sits at 2.0035.

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