Foreign Exchange Rate Forecasts / Predictions For Pound (GBP), Euro (EUR), Dollar (USD) & Canadian Dollar (CAD)

Modified: Friday, 14 February 2014 14:58 BST - Written by John Cameron

STORY LINK Foreign Exchange Rate Forecasts / Predictions For Pound (GBP), Euro (EUR), Dollar (USD) & Canadian Dollar (CAD)

The POUND STERLING (currency:GBP) had a mixed day in the markets yesterday following a poor set of UK house price numbers. Investors are still digesting comments from the Bank of England in midweek which suggested that British interest rates will not rise to above 2.00% until at least 2017 – a fact which is likely to anchor Sterling moving forward. With recent UK services sector data hinting at a cooling of the rate of the British recovery, Sterling is forecast to trade on a NEUTRAL TO NEGATIVE bias moving forward.

The EURO (currency:EUR) has struggled against the Pound so far this week, but has a chance to redeem itself before the weekend market shutdown thanks to this morning’s Q4 whole of eurozone GDP data. However, expectations are relatively high for the print with a significant improvement from Q3’s counterpart figure expected. Anything less than this and the single currency is likely to lose further ground. Following comments over the past week from ECB policymakers hinting at a further loosening of monetary policy later in 2014, the outlook for the EUR is NEUTRAL TO NEGATIVE. The Pound Euro exchange rate stands at 1.2177 GBP/EUR.

A weak set of US Retail Sales figures and disappointing weekly Initial Jobless Claims numbers, published yesterday afternoon, served to heap further pressure on the US DOLLAR (currency:USD). The upshot saw the Pound Dollar exchange rate edge higher to 1.6674 GBP/USD by the European equities close. This afternoon’s Michigan Confidence survey is the final tier one data release in the States this week, but even a strong showing from this gauge of US Confidence may not be enough to revive the Greenback’s fortunes. The outlook for the Buck is NEUTRAL TO NEGATIVE.

The CANADIAN DOLLAR (currency:CAD) enjoyed a steady day in the markets yesterday following an encouraging set of domestic house price data. The improvement in the price of a barrel of West Texas Crude Oil in the global markets from close to $90 to aver $100 during the past month has provided further reason for optimism for investors holding the Loonie. With the US Federal Reserve hinting that Quantitative Easing may be here for a little longer than was previously anticipated in the States, the CAD is forecast to trade with a NEUTRAL TO POSITIVE bias moving forward. The current Pound Canadian Dollar exchange rate stands at 1.8281 GBP/CAD.

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 Pound Sterling to Euro, CAD Dollar & US Dollar Exchange Rates (Updated: 15:00 GMT 14/02/2014)

The Pound Sterling to Canadian Dollar exchange rate is trading up +0.36% at 1.83517 GBP/CAD.
The Pound Sterling to Euro exchange rate is trading up +0.28% at 1.22109 GBP/EUR.
The Pound Sterling to US Dollar exchange rate is trading up +0.35% at 1.67147 GBP/USD.
The Euro to Canadian Dollar exchange rate is trading up +0.08% at 1.50289 EUR/CAD.

The Euro to Pound Sterling exchange rate is trading down -0.28% at 0.81894 EUR/GBP.
The Euro to US Dollar exchange rate is trading up +0.07% at 1.36883 EUR/USD.
The US Dollar to Canadian Dollar exchange rate is trading up +0.01% at 1.09794 USD/CAD.
The US Dollar to Euro exchange rate is trading down -0.07% at 0.73055 USD/EUR.
The US Dollar to Pound Sterling exchange rate is trading down -0.35% at 0.59828 USD/GBP.

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