Weekly Exchange Rate Forecasts for British Pound, Euro, Australian Dollar and New Zealand Dollar

January 27, 2015 - Written by John Cameron

STORY LINK Weekly Exchange Rate Forecasts for British Pound, Euro, Australian Dollar and New Zealand Dollar

Our Latest Pound Sterling Forecasts vs Euro, Aus Dollar and NZ Dollar Rates

Euro Exchange Rate Forecast: German Comments Weigh Down EUR

Comments from an official German government spokesman earlier today have triggered a pronounced attack of the jitters from global market participants. The development has provided the Pound Sterling euro exchange rate with further forward momentum, pushing the pair up to as high as 1.3446 GBP EUR earlier on.

Germany issues Greece Threat

German government spokesman Steffan Seibert stated after today’s eurozone Finance Ministers’ meeting that perennial problem child Greece needed to, ‘take measures so that the economic recovery continues’. He went on to assert that, ‘a part of that is Greece holding to its prior commitments and that the new government.’

Australian Dollar Exchange Rate Falls on Greece Comments

Investors took these comments as evidence that the eurozone’s most powerful component nation is in no mood to let Greece write of any part of the massive debt which it has run up under the terms of its Troika-funded bailout. The news had a pronounced effect on the relative value of the euro (currency:EUR), but the prospect of a damaging stand-off between Germany and Greece also served to sap the Commodity Dollars of support. The move saw the pound Sterling climb from an intraday low of 1.8937 against the Australian Dollar all the way up to 1.9215 a short time ago.

RBNZ Rate Decision on Tap

The Pound has recorded similar gains against the New Zealand Dollar (currency:NZD), which has seen the GBP NZD exchange rate jump to close to the 2.0400 threshold during the early stages of the North American equities session. Analysts forecast that there could potentially be further gains to come for the GBP NZD exchange rate tomorrow evening if the Reserve Bank of New Zealand (RBNZ) joins the monetary policy loosening party by announcing a surprise interest rate cut. The RBNZ’s key lending rate stands at 3.50% - any reduction to this on Wednesday evening and the GBP NZD exchange rate could track Northwards towards its near-term high just above the 2.1000 threshold.

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