January 31, 2014 - Written by John Cameron
STORY LINK Exchange Rate Forecasts / Predictions For Pound, Euro, New Zealand Dollar & US Dollar
Tame UK Mortgage Approval data, published yesterday morning, held back the POUND STERLING on the day, printing at 71,600 versus an anticipated 72,900. Following the Bank of England Governor Mark Carney’s apparent decoupling of his Bank’s future monetary policy stance from British jobless numbers a week ago, the outlook for Sterling is now NEUTRAL TO NEGATIVE.
The EURO (currency:EUR) endured a rollercoaster ride against the Pound during yesterday’s session. Encouraging German labour market figures sent the Pound euro exchange rate down to 1.2089 GBP/EUR early on before a weak set of German inflation figures caused the pair to track back up to as high as 1.2168 GBP/EUR before the European close. Today's whole of eurozone unemployment numbers could prove to be market-moving, in the meantime the single currency is forecast to trade on a NEUTRAL footing.
The NEW ZEALAND DOLLAR (currency:NZD) has suffered a pronounced bout of selling pressure over the past 48hrs thanks to comments from RBNZ Governor Graeme Wheeler confirming that he still believes that Kiwi is too strong. Investors are now speculating that New Zealand’s central bank will once again dump Kiwi-denominated assets onto the market in an effort to actively weaken the NZD. The nearterm outlook for the Kiwi is therefore NEUTRAL TO NEGATIVE and the current Pound New Zealand Dollar exchange rate stands at 2.0255 GBP/NZD.
The US DOLLAR (currency:USD) has pushed ahead against the Pound since Wednesday night’s Federal Reserve announcement that it will be lopping another $10bn off its controversial Quantitative Easing programme. With Janet Yellen due to take over the top job at the Fed next week, February’s policy decision from the US central bank will be critical to the future prospects of the Greenback. Another QE cut next month will confirm the Buck’s current NEUTRAL TO POSITIVE trading bias. The current Pound Dollar exchange rate stands at 1.6480 GBP/USD.
For futher exchange rate forecasts, live currency converters or to compare exchange rates for an international money transfer please refer to the main Currency News UK website.
Important Euro, Pound, New Zealand Dollar & US Dollar Exchange Rates (Updated: 11:00 GMT 31/01/2014)
The Pound Sterling to Euro exchange rate is trading down -0.09% at 1.21568 GBP/EUR.
The Pound Sterling to New Zealand Dollar exchange rate is trading up +0.23% at 2.02114 GBP/NZD.
The Pound Sterling to US Dollar exchange rate is trading down -0.24% at 1.64565 GBP/USD.
The Euro to Canadian Dollar exchange rate is trading up +0.12% at 1.51460 EUR/CAD.
The Euro to Pound Sterling exchange rate is trading up +0.09% at 0.82259 EUR/GBP.
The Euro to US Dollar exchange rate is trading down -0.15% at 1.35369 EUR/USD.
The US Dollar to Euro exchange rate is trading up +0.15% at 0.73872 USD/EUR.
The US Dollar to Pound Sterling exchange rate is trading up +0.24% at 0.60766 USD/GBP.
The US Dollar to New Zealand Dollar exchange rate is trading up +0.47% at 1.22817 USD/NZD.
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