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Pound Sterling Currency Predictions vs EUR USD NZD

January 30, 2015 - Written by John Cameron

Sterling Watchers Await Mortgage Data

The POUND STERLING (currency:GBP) had a decidedly mixed day of it yesterday, recording strong gains against the risk-sensitive high yielding currencies, while at the same time giving up ground against the US Dollar and the euro. This morning’s UK Mortgage Approval statistics for December are the final tier one risk event of note for the Pound – anything below the anticipated showing of 59,000 would ensure that the UK unit heads for the weekend shutdown with its tail between its legs. The Pound is forecast to perform with a NEUTRAL bias moving forward.


Euro Anchored by Greece & QE

The EURO (currency:EUR) continues to be heavily burdened by the European Central Bank’s Quantitative Easing programme and by fears that Greece may be about to stage a dramatic eurozone exit. Yesterday’s disappointing German inflation numbers will anchor the single currency as we head towards the weekend; the whole of eurozone version of the same figure, out later today, will also have a bearing on levels of support for the euro, which is still expected to trade on a NEGATIVE footing moving forward. The GBP EUR exchange rate stands at 1.3310.


Dollar Gains on Jobs Statistics

The US DOLLAR (currency:USD) staged a strong comeback against Sterling yesterday, sending GBP USD down to an intraday low of 1.5020. The Buck was provided with a fair wind by the publication of a stronger than anticipated set of weekly jobs data yesterday afternoon. Meanwhile, the Federal Reserve’s downbeat message regarding the current state of the world economy appears to have provoked renewed safe haven support for the low-yielding Greenback. The outlook for the Dollar is now NEUTRAL TO POSITIVE and GBP USD stands at 1.5035.


Kiwi Slumps Following RBNZ Commentary
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The NEW ZEALAND DOLLAR (currency:NZD) endured one of its worst sessions for some time during yesterday’s trading day. The Kiwi was dealt a double blow on Wednesday night when the Reserve Bank of New Zealand altered to a neutral policy bias and the US Federal Reserve painted a gloomy picture of the global economic situation. The outlook for the Kiwi is NEUTRAL TO NEGATIVE and GBP NZD stands at 2.0733.
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