British Pound Sterling Exchange Rate Forecast vs EUR USD NZD

October 29, 2015 - Written by Ben Hughes

STORY LINK British Pound Sterling Exchange Rate Forecast vs EUR USD NZD

BoE Rate Hike Bets Supports Pound Sterling (GBP) Conversion Rates Today

The POUND STERLING (currency : GBP) continues to enjoy reasonable levels of support in the markets thanks to investors’ belief that the Bank of England will be one of the first global central banks to increase its interest rate.

A below par set of UK Mortgage Approval numbers earlier did not shake this belief, but a disappointing showing from tonight’s GfK Consumer Confidence survey could hinder Sterling’s progress.

The Pound is forecast to trade with a NEUTRAL TO POSITIVE bias in the near-term.

GBP to EUR Exchange Rate Stands at 1.3945, Euro Predicted to Soften

The EURO (currency : EUR) received a shot in the arm earlier today when the latest German jobs data revealed that the overall rate of unemployment has remained steady this month.

However, analysts forecast that the shared currency will be anchored by last week’s heavy hints from European Central Bank President Mario Draghi that more Quantitative Easing might be on the way for the euroland economy.

The outlook for the euro is NEGATIVE and the GBP EUR exchange rate stands at 1.3945.

GBP to USD Conversion Rate at 1.5288 after US GDP Missed Estimates

The US DOLLAR (currency : USD) has generally benefitted from last night’s US Federal Reserve monetary policy announcement.

The Fed’s commentary was adjudged to be generally hawkish in tone and now that the dust has settled, futures markets are pricing in a 50.4% chance that US interest rates will increase this year.

Analysts have discounted this afternoon’s below-par US GDP data, blaming it on companies running down stockpiled goods.

With a tightening of policy Stateside firmly on the horizon, the Buck is forecast to trade on a NEUTRAL TO POSITIVE footing moving forward. GBP USD stands at 1.5288.

RBNZ Hold Rates but NZD Declines on Rate Cut Speculation

Last night’s Reserve Bank of New Zealand (RBNZ) monetary policy announcement saw Kiwi interest rates remain at their current level of 2.75%.

However, the NEW ZEALAND DOLLAR (currency : NZD) still lost ground following the RBNZ’s assertion that it ‘seemed likely’ that there will be further rate cuts to come.

Today’s session has seen global commodities prices edge lower by around 0.50%, heaping further pressure on NZD.

The Kiwi Dollar is now expected to trade on a NEGATIVE footing moving forward and the GBP NZD exchange rate stands at 2.2854.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: Pound Dollar Forecasts Pound Euro Forecasts Pound New Zealand Dollar Forecasts