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Exchange Rate Forecasts: Pound Sterling, Aus Dollar, Euro and the US Dollar

December 17, 2014 - Written by John Cameron

Inflation Data Fails to Dent Pound Sterling



pound sterling exchange rateNovember’s UK inflation numbers, published earlier today, showed at their lowest monthly level for 12 years.

However, the below-expectations print of 1.0% failed to hold back the POUND STERLING (currency:GBP) on the session, as investors focussed on the continued move lower in global oil prices to their lowest level for five years.

Other nations are likely to endure considerably lower rates of price rises that the UK economy, so Sterling escaped a Pounding. The outlook for the UK tender remains NEUTRAL TO POSITIVE.

The Pound to Australian Dollar exchange rate today is converting +0.14 per cent higher at 1.91723 GBP/AUD.
The Pound to Euro exchange rate converts +0.25 per cent higher at 1 GBP is 1.26151 EUR.
The Pound to US Dollar conversion rate is -0.5 pct lower at 1.56646 GBP/USD.
The Pound to South African Rand exchange rate converts -0.64 per cent lower at 1 GBP is 18.23769 ZAR.

Australian Dollar Exchange Rate Forecast: AUD Slumps



Support for the AUSTRALIAN DOLLAR (currency:AUD) has haemorrhaged during the past month; the GBP AUD exchange rate was languishing down in the 1.7000s just four weeks ago, but the pair jumped to a fresh 11-month high of 1.9182 earlier today.
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Significantly, GBP AUD failed to break to a new 5-year high by just 5 pips, suggesting that a near-term technical retracement may be in store.

For this reason, the forecast for the Aussie is NEUTRAL TO POSITIVE, while the GBP AUD exchange rate now stands at 1.9136.

Euro Forecast: Greece Fears Suppress EUR



The EURO (currency:EUR) failed to capitalise on a weak showing from the latest British inflation numbers earlier, meaning that the GBP EUR exchange rate tipped the scales at 1.2592 a short time ago.

Concerns that Greece may be sleepwalking towards an exit from the European Union have held back the single currency on the session, while the continued drop in global oil prices makes a bout of deflation a near-certainty for the euroland. The outlook for the single currency remains NEGATIVE.

US Dollar Exchange Rate Forecast: Poor Housing Data Hurts USD



The US DOLLAR (currency:USD) suffered a poor session in the markets today as speculators continued to take profit follow the Buck’s recent stellar performance.

This afternoon’s distinctly below par US Building Permits and Housing Starts figures are likely to ensure that the near-term selling pressure continues on the Greenback.

Analysts now forecast that the Buck will perform with a NEUTRAL TO NEGATIVE bias moving forward and GBP USD stands at 1.5727.
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