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Pound to Euro Forecast: Decline to 1.1365 in Three Months say Danske

28 Mar 2024 at 9 AM - Written by John Cameron

The Pound to Euro exchange rate (GBP/EUR) has remained in narrow ranges with the pair finding support just below 1.1650, but struggling to sustain any gains and settling below 1.1660. Interest rate expectations will continue to be an important driver for exchange rates in general and GBP/EUR in particular. Danske Bank still forecasts a GBP/EUR decline to 1.1365 on a 3-month view. According to money markets there is a...

CATEGORIES: Pound Euro Forecasts

Pound to Euro Outlook: "GBP somewhat vulnerable going into Q224" say Credit Agricole

27 Mar 2024 at 8 AM - Written by John Cameron

The Pound to Euro exchange rate (GBP/EUR) found support just below 1.1650 on Tuesday and traded just above this level after the US open. There were no major data releases during the day with markets focussing to an important extent on interest rate expectations. The calendar could also have a significant impact in the short term. SocGen commented on positive short-term influences; “Seasonality in April is also...

CATEGORIES: Pound Euro Forecasts

Pound Sterling Surrenders Gains as US Bond yields Increase, Trades Below 1.2650 vs Dollar

27 Mar 2024 at 8 AM - Written by David Woodsmith

The Pound to dollar exchange rate (GBP/USD) hit highs just below 1.2670 on Tuesday. It was unable to sustain the peak levels and retreated to 1.2630 after the US open with little net change on the day as the dollar pared losses. There was a lack of underlying energy in markets with an underlying phase of consolidation after last week’s central bank policy meetings. Scotiabank commented; Trading appears light, with...

CATEGORIES: Pound Dollar Forecasts

Pound to Dollar Rate Rallies to 1.2650, Asian Warnings Keep USD in Check

26 Mar 2024 at 9 AM - Written by David Woodsmith

The U.S. Dollar was hampered by two global developments during Monday and drifted lower in global markets. In this context, European currencies were also able to secure some relief, although overall moves were still relatively limited. The Pound to Dollar (GBP/USD) exchange rate found support close to 1.2600 and edged higher to near 1.2650 after the US open. The dollar index overall retreated to 103.85 from 104.15...

CATEGORIES: Pound Dollar Forecasts

GBP/EUR: MUFG Lowers Pound to Euro Forecast Gains to 1.2085

26 Mar 2024 at 9 AM - Written by John Cameron

The Pound to Euro exchange rate (GBP/EUR) dipped to 2-month lows at 1.1625 on Friday before a limited recovery to 1.1655 on Monday. The shift in interest rate expectations has been a key element for exchange rates with last week’s Bank of England policy decision considered generally dovish with markets considering a stronger potential for an early interest rate cut. Rate expectations will remain a key element for Pound...

CATEGORIES: Pound Euro Forecasts

Pound to Euro Week Ahead Forecast: Latest GBP/EUR Projections 2024

24 Mar 2024 at 10 AM - Written by David Woodsmith

Currency exchange forecasters at Danske Bank expect the Pound to Euro exchange rate (GBP/EUR) will weaken to 1.1365 over the next few months. BNPP, however, expects that GBP/EUR will strengthen to 1.2050 at the end of 2024. GBP/EUR dipped sharply to 2-month lows at 1.1625 before a tentative recovery to 1.1650. The Bank of England (BoE) held interest rates at 5.25% following the latest policy meeting, in line with...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar Rate Forecast Next 6 Months: Goldman Sachs Raise to 1.33

24 Mar 2024 at 10 AM - Written by David Woodsmith

Foreign exchange strategists at Goldman Sachs have increased their 6-Month Pound to Dollar exchange rate forecasts (GBP/USD) to 1.33 from 1.30 previously. HSBC, however, sees a risk of a 5% decline from the recent peak just below 1.29. GBP/USD posted significant losses during the week with a slide to 1-month lows at 1.2575 before consolidation around 1.26. Increased market confidence that the Bank of England will cut...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Exchange Rate Forecast: GBP/EUR Slides as BoE Speculation Builds

23 Mar 2024 at 9 AM - Written by John Cameron

The Pound to Euro (GBP/EUR) exchange rate retreated after Thursday’s Bank of England (BoE) policy decision and selling has continued to Friday with markets more confident that the central bank would cut interest rates at the June policy meeting. GBP/EUR retreated to 2-month lows at 1.1640 after Friday’s European open. Stronger-than-expected German business confidence data also underpinned the Euro. UK data was...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar: "Current Levels Attractive to Stay Short GBP/USD" say Danske Bank

23 Mar 2024 at 9 AM - Written by David Woodsmith

The Pound to Dollar exchange rate (GBP/USD) briefly jumped to 1-week highs at 1.2800 after the Federal Reserve policy decision, but failed to hold the gains. A limited dovish shift by the Bank of England pulled the Pound lower and the dollar also fought back in global markets amid expectations of European interest rate cuts. In this environment, GBP/USD retreated sharply to 2-week lows at 1.2660. GBP/USD needs to...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Rate Slips to 1.166 as BoE Edges Closer to Rate Cut

21 Mar 2024 at 4 PM - Written by John Cameron

A slightly more dovish Bank of England policy stance undermined the Pound on Thursday while there were mixed Euro developments. The Pound to Euro (GBP/EUR) exchange rate initially strengthened to 1.1720 before a slide to 20-day lows just below 1.1670. The Euro drew technical support from a jump in the EUR/CHF rate following a surprise Swiss National Bank interest rate cut. This was, however, offset to some extent by...

CATEGORIES: Pound Euro Forecasts