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Aus Dollar, Canadian Dollar & New Zealand Dollar Exchange Rates Outlook: Commodity Dollars Forecast to Climb against Pound

September 4, 2015 - Written by John Cameron

With China sidelined as a source of news thank to a two day public holiday in Asia’s number one economy, global stock markets have been given some much-needed respite.

The absence of bad news regarding Chinese equities has allowed London’s FTSE 100 and the euroland’s bourses to recover a portion of their losses of the past month, with Frankfurt’s benchmark Dax index trading up by over 2% during the latter part of the session.

The upward shift in global risk sentiment has favoured the high-yielding Commodity Dollars, with the Australian Dollar (currency : AUD), New Zealand Dollar (currency : NZD) and the Canadian Dollar (currency : CAD) all recording a significant moves higher against the Pound off their intraday lows of this morning.

The improved levels of global appetite for risk were further fuelled by this afternoon’s press conference from European Central Bank (ECB) President Mario Draghi who used his monthly platform to downgrade the ECB’s forecast for inflation in the euro area. Draghi also trimmed his Bank’s official regional growth forecasts and suggested that the ECB’s ongoing Quantitative Easing programme had the potential to be extended if these slipped further. The suggestion that QE might continue past September 2016 and that the monthly allocation for bond purchases could be extended from its current €65bn hit the euro (currency : EUR) hard and the Pound Sterling euro exchange rate climbed off its intraday low of 1.3563 GBP EUR to touch 1.3737 as he spoke GBP EUR.

Draghi’s dovish message had the additional effect of providing the Commodity Dollars’ improvement against the Pound with further fuel and the Pound Sterling fell against the Australian Dollar and New Zealand Dollars as a consequence. The GBP AUD exchange rate slid to 2.1694, having changed hands at close to 2.1900 earlier on, while the GBP NZD exchange rate pulled back to trade down into the 2.3800s – significantly down from its intraday high of 2.4147. Further losses are predicted if global share markets continue to improve.

Today's Exchange Rates as of 05/09/2015



The Pound to Australian Dollar conversion rate is 2.19681 GBP/AUD.
The Pound to Canadian Dollar conversion rate is 2.01512 GBP/CAD.
The Pound to Swiss Franc exchange rate today is converting at 1.47383 GBP/CHF.
The Pound to Euro exchange rate is 1 GBP equals 1.36069 EUR.
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The Pound to Hong Kong Dollar exchange rate converts at 1 GBP is 11.75935 HKD.
The Pound to Yen exchange rate is 1 GBP equals 180.57432 JPY.
The Pound to New Zealand Dollar exchange rate converts at 1 GBP is 2.41345 NZD.
The Pound to Swedish Krona exchange rate is 1 GBP equals 12.79797 SEK.
The Pound to Turkish Lira exchange rate converts at 1 GBP is 4.56197 TRY.
The Pound to US Dollar exchange rate today is converting at 1.51724 GBP/USD.
The Pound to Rand exchange rate is 1 GBP equals 21.03585 ZAR.

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