Foreign Exchange Rate Forecasts / Predictions For Pound Sterling (GBP), Euro (EUR), Rupee (INR) & Dollar (USD)

May 16, 2014 - Written by John Cameron

STORY LINK Foreign Exchange Rate Forecasts / Predictions For Pound Sterling (GBP), Euro (EUR), Rupee (INR) & Dollar (USD)

Currency News UK exchange rate forecasts and predictions for the Pound Sterling (GBP), Euro (EUR), Rupee (INR) and US Dollar (USD): The POUND STERLING (currency:GBP) outperformed almost all of the other sixteen most-actively traded global currencies during yesterday’s session as investors bought back into Sterling following the mid-week wobble which was triggered by comments from Bank of England Governor Mark Carney. The BoE Chief suggested that UK interest rates will remain at an ultra-low level for some time, but really he wasn’t telling the market anything it didn’t already know. The Pound Sterling forecast is NEUTRAL TO POSITIVE.

The EURO (currency:EUR) lost a little ground against Sterling during yesterday’s session following a disappointing set of whole of eurozone Q1 Gross Domestic Product data. The negative effect of the regional growth numbers was offset by a strong set of German GDP numbers. Eurozone trade balance data for March provide the highlight for the single currency today. A relatively strong showing will allow the Pound to Euro exchange rate to shift further southwards from the 16-month high which it struck earlier in the week. In the meantime, the euro is forecast to trade with a NEUTRAL bias. The Pound Euro exchange rate stands at 1.2241 GBP/EUR.

The INDIAN RUPEE (currency:INR) continued to improve against Sterling during yesterday’s session as investors priced-in a high probability that India’s premier opposition party, Bharatiya Janata, will win the nation’s recent general election. The significant move to below the 100 threshold for GBP INR signals that the shift lower may have the legs to continue for a while yet as optimism grows regarding India’s future. The Rupee forecast is now NEUTRAL TO POSITIVE and the current Pound Rupee exchange rate stands at 99.6400 GBP/INR.

The US DOLLAR (currency:USD) endured a mildly disappointing day yesterday, sending the Pound Dollar exchange rate up to as high as 1.6806 GBP/USD. However, better than expected domestic jobs figures, out in the States yesterday afternoon, coupled with a slightly higher than anticipated set of CPI inflation numbers for last month mean that the Greenback could enjoy a delayed bout of support today. The figures mean that a tightening of monetary policy by the US Federal Reserve would appear more likely, suggesting that the US Dollar could improve against the Pound Sterling from here. Analysts now expect the Dollar exchange rate forecast to trade on a NEUTRAL TO POSITIVE footing in the near-term.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts