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Exchange Rate Forecasts: Pound Sterling, Euro, US Dollar and Canadian Dollar

February 11, 2015 - Written by John Cameron

Latest Forex Forecasts for the Pound to Euro, US Dollar and Canadian Dollar Exchange Rates



The POUND STERLING (currency:GBP) suffered a blow yesterday morning when the latest domestic Industrial Output numbers provided further evidence that the British economic recovery is faltering.

The main danger to the UK economy continues to be the potential fallout from a messy breakup of the eurozone, however yesterday afternoon’s steady NIESR GDP estimate helped stabilise support for the Pound which is forecast to perform on a NEUTRAL TO NEGATIVE footing moving forward.

Let's bring you the latest relevant forex rates today:

The Pound to Canadian Dollar exchange rate is +0.53 pct higher at 1.93062 GBP/CAD.
The Pound to Euro exchange rate is +0.28 pct higher at 1.35184 GBP/EUR.
The Pound to New Zealand Dollar exchange rate today is converting +0.44 per cent higher at 2.06583 GBP/NZD.
The Pound to US Dollar exchange rate today is converting +0.22 per cent higher at 1.52928 GBP/USD.

Euro to Pound Exchange Rate Falls



The EURO (currency:EUR) traded at close to its 7 ½ year low against the Pound during the middle part of yesterday’s session.
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The headwinds for the single currency remain clear, with most commentators finding it difficult to imagine anything other than a difficult Grexit from the eurozone.

Today’s session sees the commencement of the eurogroup meeting of Finance Ministers with the main topic for discussion being the ‘Greek Problem’.

Analysts continue to predict that the single currency will perform on a firmly NEGATIVE footing into the medium term and the GBP EUR exchange rate stands at 1.3472.

Pound to Dollar Exchange Rate Forecast



The US DOLLAR (currency:USD) has enjoyed renewed support against Sterling since the weekend market shutdown.

Last Friday’s American jobs figures once again impressed and investors feel that an interest rate hike from the Federal Reserve must now be close at hand, putting the US well ahead of the curve versus the world’s other major central banks on monetary policy.

The outlook for the Buck remains NEUTRAL TO POSITIVE and GBP USD stands at 1.5220.

Canadian Dollar Exchange Rate Forecast



A continued forward move in the wholesale price of oil this week has not triggered any attendant support for the CANADIAN DOLLAR (currency:CAD).

The Loonie has been weighed down by expectations that the US Federal Reserve will be increasing its headline interest rate sooner rather than later following last week’s go-ahead Non-Farm Payrolls data.

Such a move from the Fed would be likely to dampen aggregate demand in the States – a development which would spell bad news for the export-driven Canadian economy.

Support for the Loonie has greatly eased in recent weeks – the forecast for the Canadian unit is now NEUTRAL and GBP CAD sits at 1.9220.
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