Pound Sterling, Euro, US Dollar and Canadian Dollar - Foreign Exchange Rate Forecasts 2015

March 22, 2015 - Written by John Cameron

STORY LINK Pound Sterling, Euro, US Dollar and Canadian Dollar - Foreign Exchange Rate Forecasts 2015

Today's Currency Exchange Rate Forecasts for the British Pound, Euro, Dollar and the Canadian Dollar

The POUND STERLING (currency:GBP) didn’t gain any noticeable upside from Friday's Public Sector Borrowing data which revealed that the UK’s public finances had improved during February.

The official statistics showed down that the level of government borrowing was down by a third in comparison to a year earlier, offering some hope that Britain’s deficit is being brought under control.

Looking at the bigger picture, Sterling continues to be weighed down by the widely-held view that UK interest rates will remain at their current ultra-low level until well into 2016.

Here are the currency conversions at time of writing:

The Pound to Australian Dollar conversion rate is -0.3 pct lower at 1.91410 GBP/AUD.
The Pound to Canadian Dollar exchange rate is -0.3 pct lower with a conversion rate of 1 GBP equals 1.87471 CAD.
The Pound to Euro exchange rate today is converting -0.35 per cent lower at 1.37543 GBP/EUR.
The Pound to New Zealand Dollar exchange rate converts -0.68 per cent lower at 1 GBP is 1.96092 NZD.
The Pound to US Dollar exchange rate today is converting -0.34 per cent lower at 1.48909 GBP/USD.

Euro exchange Rate Forecast

The EURO (currency:EUR) has enjoyed a near-term renaissance following last week’s move to its lowest level since 2007 against the Pound Sterling.

The single currency has benefitted from Wednesday’s relatively dovish policy statement from the US Federal Reserve which has served to weaken the Buck, sending the euro US Dollar exchange rate Northwards once more.

However, the shared currency still faces a major threat from the twin headed beast of Greece and QE – for this reason, the euro is forecast to trade with a firmly NEGATIVE bias moving forward.

Dollar Exchange Rate Forecast

The US DOLLAR (currency:USD) has struggled to assert itself in the markets since Wednesday’s Federal Reserve monetary policy announcement.

The Fed’s suggestion that investors hoping for a US interest rate hike may have to wait for a significant time has held back support for the USD.

The market has moved against the US unit as a result, but this situation may not last for long – analysts note that the Fed minutes dropped the work ‘patience’ from its forward guidance on rates, replacing it with the advice that a continued improvement in domestic labour market data would be the trigger for a rate increase, could help the Buck moving forward.

The US Dollar forecast is NEUTRAL.

Canadian Dollar Exchange Rate Forcast

The CANADIAN DOLLAR (currency:CAD) has gradually climbed against the Pound during today’s session, sending the GBP CAD exchange rate down to as low as 1.8665.

Renewed support for the Loonie has been driven by this afternoon’s inflation figures which revealed that the core rate of Canadian price rises stubbornly remained at above the 2.0% threshold last month.

The data suggest that the Bank of Canada may have to consider raising interest rates as soon as oil prices begin recovering.

The outlook for the CAD is NEUTRAL TO NEGATIVE.

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