US Dollar to Pound Forecast - USD/GBP Exchange Rate Weekly Roundup 2015

June 7, 2015 - Written by James Fuller

STORY LINK US Dollar to Pound Forecast - USD/GBP Exchange Rate Weekly Roundup 2015

US Dollar to Pound Sterling Exchange Rate Report – June 1 to June 5 2015

On Monday, the US Dollar firmed against most of its major peers as sentiment towards the currency was buoyed by the previous week’s data releases, which indicated that the US economy is steadily recovering following the weakness seen in the first quarter of the year. Investors shrugged off a report, which showed that US GDP contracted at an annual rate of 0.7% in the first quarter. ISM Manufacturing PMI data added support to the ‘Greenback’ as it came in positively. The Pound Sterling firmed also firmed as the latest Markit/CIPS Manufacturing PMI data came in positively.

On Tuesday, the US Dollar advanced to a new 12-and-a-half year high against the Japanese Yen and firmed against other major peers following the release of upbeat US manufacturing activity and construction spending data, which bolstered expectations for higher interest rates. As the session progressed the currency eased as several reports missed expectations. Against the US Dollar, Sterling was trading close to a three-week low. The currency inched away from that as the session progressed if upcoming construction PMI data comes in positively.

Midweek, the US Dollar weakened against its major peers following the release of weak US data which dampened expectations that the Federal Reserve will hike interest rates in September. PMI data, balance of trade data both missed expectations. Further losses were restrained due to the release of positive ADP Employment data. Sterling was weakened by disappointing Services PMU data.

On Thursday, The Pound Sterling regained some ground against the US Dollar due to the release of more disappointing US data in the previous session and the Bank of England’s decision to leave interest rates unchanged. The ‘Greenback’ meanwhile found support from better-than-expected jobless claims figures.

As the week ended, the US Dollar advanced on expectations that eagerly anticipated nonfarm payrolls data would come in positively. The Pound softened as a report released by KPMG and the Recruitment and Employment Confederation (REC) showed that the pace of expansion in hiring employees fell to its lowest level in four-months.

Looking ahead to next week the USD/GBP will experience more volatility as investors will turn their attention to UK production reports due for release on Wednesday and US retail sales data due for publication on the Thursday. Another figure of interest will be next Friday’s US Michigan Consumer Sentiment report which will give a clearer indication as to sentiment levels in the world’s largest economy.

Dollar Exchange Rates Today

The US Dollar to Australian Dollar exchange rate converts -0.31 per cent lower at 1 USD is 1.30898 AUD.
The US Dollar to Canadian Dollar exchange rate is -0.21 pct lower with a conversion rate of 1 USD equals 1.24367 CAD.
The US Dollar to Swiss Franc exchange rate today is converting -0.19 per cent lower at 0.93897 USD/CHF.
The US Dollar to Euro exchange rate converts -0.34 per cent lower at 1 USD is 0.89764 EUR.
The US Dollar to Pound Sterling conversion rate is +0.15 pct higher at 0.65616 USD/GBP.
The US Dollar to Indian Rupee exchange rate today is converting at 63.64000 USD/INR.
The US Dollar to New Zealand Dollar exchange rate is -0.34 pct lower with a conversion rate of 1 USD equals 1.41516 NZD.
The US Dollar to Thai Baht exchange rate today is converting at 32.91500 USD/THB.
The US Dollar to Turkish Lira exchange rate converts +0.93 per cent higher at 1 USD is 2.78002 TRY.
The US Dollar to South African Rand exchange rate today is converting -0.3 per cent lower at 12.56625 USD/ZAR.

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