US Dollar, Pound Sterling, Euro and New Zealand Dollar Daily Currency Rate Forecasts

Published: Wednesday, 11 April 2012 18:00 BST - Written by John Cameron

STORY LINK US Dollar, Pound Sterling, Euro and New Zealand Dollar Daily Currency Rate Forecasts

The US DOLLAR has suffered selling pressure in the currency markets on the day, as US share indices snapped their five-day losing streak. Institutional investors seem able to put their fears over rising Italian and Spanish bond yields and last Friday’s weak US jobs data to one side, and are regaining their appetite for risk – bad news for the safe-haven Dollar. The current GBP USD exchange rate stands at 1.5897 and the near-term outlook for the Greenback is NEUTRAL TO NEGATIVE.


The POUND STERLING has performed no more than steadily on the day against the other majors. An absence of genuine risk events in the UK has informed this, meaning that the Pound trades on a NEUTRAL footing ahead of tomorrow’s British trade figures, which could shape Sterling’s fortunes in the lead-up to this weekend’s close.


The EURO has remained friendless in the markets today, sending the GBP EUR exchange rate all the way up to 1.2137 on the day. Market participants remain wary of holding euro-denominated assets thanks to concerns over Italian long-term debt yields, which are edging ever higher. Tomorrow’s ECB Monthly Report will be closely monitored for clues on future monetary policy direction. In the meantime, the single currency is expected to trade on a NEUTRAL TO NEGATIVE footing.


The NEW ZEALAND DOLLAR has clawed back some of its recent losses against Sterling on the day, thanks to a respectable performance from global equities markets. Tonight sees the release of a slew of Kiwi data releases, the most prominent of which is the Business NZ Performance of manufacturing Index. If this figure suggests that New Zealand’s domestic economy is managing to weather difficult international trading conditions, then the Kiwi could end the week trading with a NEUTRAL TO POSITIVE bias.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts