Currency Exchange Rate Forecasts For GBP to EUR Exchange Rate, USD & NZD Predictions

Published: Friday, 30 November 2012 14:00 BST - Written by James Fuller

STORY LINK Currency Exchange Rate Forecasts For GBP to EUR Exchange Rate, USD & NZD Predictions

The EURO has continued its positive performance against Sterling on the day, sending the GBP EUR exchange rate down to 1.2319 this afternoon. Comments from ECB President Mario Draghi during a French television interview this morning served to sooth investors; Draghi stated that mainland Europe’s economy would start moving forward again next year and that that he was content with Greece’s bailout agreement which was reached earlier this week. The near-term outlook for the euro is NEUTRAL TO POSITIVE.

The POUND STERLING has lost a little ground against both the US Dollar and the euro today, as investors continue to ‘factor-in’ yesterday’s comments from Bank of England Governor Mervyn King which suggested that Britain’s retail banking sector may be far from creditworthy. The overnight release of a ‘less bad’ than anticipated GfK Consumer Confidence Survey has failed to help Sterling significantly. The Pound is expected to trade on a NEUTRAL TO NEGATIVE footing in the near term.

The US DOLLAR has made gains against the majority of the other major global currencies on the day, as institutional investors remain wary of risk-laden assets. The overnight news that economic activity in India is slipping has helped take the edge off investors’ appetite for risk and ongoing concerns that the impending ‘fiscal cliff’ crisis might send the world’s leading economy into an economic winter have continued to favour the Greenback. The current GBP USD exchange rate is 1.5994 and the Buck is expected to trade with a NEUTRAL TO POSITIVE bias in the short term.

The NEW ZEALAND DOLLAR has been one of the worst-performing currencies in the global market today. Weak Asian data in the form of a disappointing set of Indian GDP figures overnight spelled bad news for the ‘Kiwi’. Record unemployment figures from the eurozone, another one of New Zealand’s key export markets, has also hindered the NZD. The current GBP NZD exchange rate stands at 1.9550 and the ‘Kiwi’ is expected to trade on a NEUTRAL footing into next week.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts