Euro to Pound (EUR/GBP) & Australian Dollar to Pound (AUD/GBP) Exchange Rates Forecast Losses Predicted

Modified: Tuesday, 25 February 2014 15:45 BST - Written by Minesh Chaudhari

STORY LINK Euro to Pound (EUR/GBP) & Australian Dollar to Pound (AUD/GBP) Exchange Rates Forecast Losses Predicted

The Euro exchange rate (currency:EUR) has suffered further selling pressure in the global currency markets during early trading today. The flaky support for the eurozone unit has stemmed from investors’ concerns regarding the incendiary political situation in Ukraine which threatens to derail the working relationship between Brussels and Moscow.

The former Soviet state, which borders the Russian Federation to the East and nations including the more western-looking Poland, Slovakia and Hungary to the West, appears to be bitterly divided following the ousting of erstwhile President Viktor Yanukovych. The former head of state was seen as Moscow’s man and enjoyed widespread support in the Southern and Eastern areas of the vast nation.

Russia considers the mass protests which lead to his removal as having been orchestrated by the West in an attempt to integrate Ukraine into the European Union. Up to this point, Russia has kept its powder relatively dry, but comments from Moscow since the shift in power suggest that they lay the blame for Yanukovych’s removal firmly at the door of Brussels policymakers.

NATO Defence Ministers are due to meet to discuss the tinderbox situation in Ukraine over the next 48hrs – if they fail to come up with a path forward which will placate both the Russia and her Western trading partners, then the euro may give up further ground against the Pound, potentially sending the Pound euro exchange rate (GBP/EUR) up through its 13-month high of 1.2258 which it last clipped at the start of last week. Such a move would provide firm evidence that the pair remains locked in a pronounced uptrend.

Elsewhere, the Australian Dollar remains under pressure against Pound Sterling (AUD/GBP) following yesterday’s confirmation that production of motor vehicles in Australia will completely cease in the near future following confirmation from Toyota that it will be ending production in the Antipodean nation. The news from the leading Japanese car manufacturer follows recent similar announcements from Holden and Ford meaning that widespread job losses are now likely in the already struggling Aussie economy. The upshot saw the Pound Australian Dollar exchange rate climb to as high as 1.8526 GBP/AUD earlier.

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 & Australian Dollar Exchange Rates (Updated: 15:45 GMT 25/02/2014)

The Pound Sterling to Australian Dollar exchange rate is trading up +0.31% at 1.84906 GBP/AUD.
The Pound Sterling to Euro exchange rate is trading up +0.19% at 1.21495 GBP/EUR.

The Euro to Australian Dollar exchange rate is trading up +0.12% at 1.52193 EUR/AUD.
The Euro to Pound Sterling exchange rate is trading down -0.19% at 0.82308 EUR/GBP.
The US Dollar to Australian Dollar exchange rate is trading up +0.17% at 1.10856 USD/AUD.
The US Dollar to Egyptian Pound exchange rate is trading up +0% at 6.96105 USD/EGP.
The US Dollar to Euro exchange rate is trading up +0.04% at 0.72839 USD/EUR.
The US Dollar to Pound Sterling exchange rate is trading down -0.14% at 0.59953 USD/GBP.
The Australian Dollar to Euro exchange rate is trading down -0.12% at 0.65706 AUD/EUR.
The Australian Dollar to Pound Sterling exchange rate is trading down -0.31% at 0.54082 AUD/GBP.

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TAGS: Australian Dollar Forecasts Euro Forecasts Euro Pound Forecasts Pound Austral Forecasts