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Exchange Rate Forecasts: British Pound, Euro, Dollar and Australian Dollar

November 28, 2014 - Written by John Cameron

Currency News UK presents today's foreign exchange rate predictions for Pound Sterling (currency:GBP) and our future forecast for the US Dollar (currency:USD) and the Australian Dollar (currency:AUD).



latest sterling exchange rate forecastsThe POUND STERLING (currency:GBP) continues to face major headwinds in the global currency markets.

The Bank of England’s prediction that domestic inflation will drop below 1.0%, the potential for a UK exit from the eurozone and the knock-on effect of an economic slump in the EU all continue to weigh heavily on the Pound.

However, with the pace of expansion of the British economy standing at an annualised 3.0%, Sterling is not without friends and this is likely to remain the case into the medium term. The outlook for the Pound is now NEUTRAL TO POSITIVE.

The Pound to Australian Dollar exchange rate is +0.24 pct higher with a conversion rate of 1 GBP equals 1.84292 AUD.
The Pound to Canadian Dollar exchange rate today is converting +0.13 per cent higher at 1.78831 GBP/CAD.
The Pound to Euro conversion rate is -0.02 pct lower at 1.25627 GBP/EUR.
The Pound to New Zealand Dollar exchange rate is +0.25 pct higher with a conversion rate of 1 GBP equals 2.00019 NZD.
The Pound to US Dollar exchange rate converts +0.04 per cent higher at 1 GBP is 1.56518 USD.

Euro Exchange Rate Forecast: QE Fears Hamper EUR



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Today brings a key risk event for the EURO (currency:EUR) in the form of this month’s euroland inflation numbers. Analysts expect that the closely-monitored data release will point to a slight downward move in the pace of price rises in the region and such a result would stoke rumours that the European Central Bank is about to embark on a programme of full-blown Quantitative Easing. The prospects remain bleak for the single currency – analysts continue to forecast that the single currency will perform on a NEGATIVE footing moving forward. The GBP EUR exchange rate stands at 1.2594.

Dollar Exchange Rate Forecast: USD Improves on US Data



The annual Thanksgiving holiday in the States did not stop the US DOLLAR (currency:USD) pushing ahead against Sterling during the latter part of yesterday’s trading session.

A blank day for US data releases allowed market participants to concentrate on Wednesday’s data which pointed to a far stronger than anticipated level of Durable Goods Orders in the States last month.

Greenback-watchers will have to wait until next week for more US tier one data – look out for Monday afternoon’s ISM Manufacturing survey, in particular, to be market-moving.

In the meantime, the Buck is forecast to trade with a NEUTRAL TO POSITIVE bias moving forward. The GBP USD exchange rate sits at 1.5726.

Australian Dollar (AUD) Exchange Rate: Iron Ore Slump to Anchor Aussie



The AUSTRALIAN DOLLAR (currency:AUD) enjoyed a better day in the markets yesterday, sending the GBP AUD exchange rate down into the 1.8300s.

However, the move was at least in part counterintuitive; the news that the wholesale price of iron ore had slumped by almost 10% on the day is likely to anchor the Aussie in the short-to-medium term, as are Wednesday’s comments from Reserve Bank of Australia Deputy Governor Philip Lowe, who suggested that Australian interest rate could drop next year.

The Australian tender is now predicted to perform on a NEUTRAL TO NEGATIVE footing moving forward. GBP AUD stands at 1.8394.
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