Exchange Rate Forecasts: Pound Sterling, Euro, US Dollar and Japanese Yen

February 16, 2015 - Written by John Cameron

STORY LINK Exchange Rate Forecasts: Pound Sterling, Euro, US Dollar and Japanese Yen

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

The POUND STERLING (currency:GBP) has endured a renewed bout of selling pressure following comments from EU Trade Commissioner Cecila Malmstroem earlier today.

She described a potential future exit from the EU by the UK as a ‘disaster’ and with May’s British General Election looming large, a Brexit remains a real possibility.

Tomorrow morning’s UK inflation figures are likely to provoke price action for Sterling.

In the meantime, expect the UK tender to trade on a NEUTRAL footing.

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

The Pound to Australian Dollar exchange rate today is converting -0.27 per cent lower at 1.97838 GBP/AUD.
The Pound to Canadian Dollar exchange rate is -0.17 pct lower with a conversion rate of 1 GBP equals 1.91504 CAD.
The Pound to Euro conversion rate is +0.19 pct higher at 1.35396 GBP/EUR.
The Pound to Japanese Yen exchange rate today is converting -0.45 per cent lower at 181.89638 GBP/JPY.
The Pound to US Dollar exchange rate today is converting -0.29 per cent lower at 1.53582 GBP/USD.

Euro to Pound Exchange Rate Falls

The EURO (currency:EUR) has held steady against the other major currencies so far today, with the GBP EUR exchange rate dipping by 0.37% and the euro Dollar exchange rate edging marginally higher by 0.23%.

Greek Finance Minister Yanis Varoufakis’ assertion that his government is, ‘determined not to be treated as a debt colony that should suffer what it must.’

Something’s got to give, particularly with Germany in no mood to give up any ground, and that something may well be the euro – analysts forecast that the single currency will trade on a NEGATIVE footing moving forward.

Pound to Dollar Exchange Rate Forecast

The US DOLLAR (currency:USD) has traded in a holding pattern today, with GBP USD oscillating between an intraday high of 1.5441 and a low of 1.5361.

The Buck is unlikely to weaken greatly during coming sessions, as most investors still feel that the Federal Reserve is far ahead of the curve with regard its monetary policy.

Today’s continued forward move in the price of a barrel of crude oil will add credence to these beliefs.

The Greenback is forecast to trade on a NEUTRAL TO POSITIVE footing in the short term and GBP USD currently stands at 1.5376.

Yen Exchange Rate Forecast

The JAPANESE YEN (currency:JPY) has weakened against the Pound Sterling since the global currency markets re-opened on Sunday night, in spite of official statistics which revealed that Japan’s economy came out of recession during the final three months of 2014.

Go figure? The reason behind the shift out of Yen-denominated assets has been a generalised improvement in risk sentiment during recent days as a compromise deal between Greece and the European Union becomes more likely and the fragile ceasefire in Eastern Ukraine holds.

The outlook for the Yen is NEUTRAL TO NEGATIVE and GBP JPY stands at 182.210.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts