British Pound Euro Exchange Rate Outlook GBP EUR, USD NZD Forecast

August 10, 2015 - Written by John Cameron

STORY LINK British Pound Euro Exchange Rate Outlook GBP EUR, USD NZD Forecast

Pound Recovers Losses Despite Greek Deal Speculation

Yesterday reports surfaced which indicated that Greece is close to unlocking its third bailout. Even assertions that the Hellenic nation will have accessed much needed funding before its August 20th repayment to the European Central Bank (ECB) didn't prevent the Pound returning to the 1.4171 level before today's ZEW economic sentiment surveys.

Earlier...

Pound Sterling Falls against Euro, US Dollar, New Zealand Dollar as BoE Interest Rate Hike Expectations are Revised

A turnaround in investors’ expectations regarding the timing of the next Bank of England interest rate increase held back the POUND STERLING (currency : GBP) at the end of last week’s session. A UK rate hike now appears some way off, but if Wednesday’s domestic jobs data beats expectations, then the Pound could enjoy a near-term renaissance.

The outlook for Sterling is now NEUTRAL TO NEGATIVE.

Foreign Exchange Rate News: Euro Recoups Losses against GBP as Sterling Stumbles

The EURO (currency : EUR) pulled back a small portion of its 2015 losses against Sterling during Friday trading. However, the move was largely driven by Sterling weakness rather than any strength from the shared currency. Euro-holders will have to wait until Friday for this week’s main data release - the first reading of the euroland’s Q2 GDP data will determine the relative strength of the shared currency moving forward and the euro is still forecast to trade with a NEGATIVE bias moving forward.

The GBP EUR exchange rate stands at 1.4140.

Conversion Rate Outlook: US Dollar Outperforms Peers, USD/GBP Climbs on NFP Report

The US DOLLAR (currency : USD) outperformed all of the other sixteen most actively traded global currencies on Friday afternoon after another go-ahead set of US labour market figures. Once again, the job creation element of the closely-monitored employment figures revealed that over 200,000 new positions had been generated in the world’s premier economy last month. The statistics stoked market rumours regarding a September interest rate hike from the Federal Reserve – the outlook for the Greenback is now NEUTRAL TO POSITIVE and the GBP USD exchange rate stands at 1.5468.

Dairy Price News Impacts New Zealand Dollar Exchange Rate Trading Today

The NEW ZEALAND DOLLAR (currency : NZD) improved strongly against Sterling on Friday, but the New Zealand economy’s problems persist. Global dairy prices continue to bump along the bottom of their recent trading range and investors’ suspicions persist that the Reserve Bank of New Zealand intends to trim its interest rate again before the end of the year.

For this reason, the Kiwi is forecast to trade on a NEGATIVE footing moving forward and the GBP NZD exchange rate stands at 2.3436.

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TAGS: Currency Predictions Dollar Pound Forecasts Euro Pound Forecasts Po Forecasts