Forex Forecasts: GBP EUR USD AUD Foreign Exchange Rate Predictions June 2014

June 2, 2014 - Written by John Cameron

STORY LINK Forex Forecasts: GBP EUR USD AUD Foreign Exchange Rate Predictions June 2014

Here are the foreign exchange rate forecasts / predictions for the global forex rates Pound Sterling (GBP), Euro (EUR), US Dollar (USD) and Australian Dollar (AUD) brought to you by Currency News UK:

The POUND STERLING (currency:GBP) has edged higher against most of the other major global currencies so far today thanks to domestic data which revealed that Britain’s manufacturing sector continues to expand. Thursday’s Bank of England monetary policy announcement is highly unlikely to de-rail the Pound’s current positive performance, so the outlook for the UK tender remains NEUTRAL TO POSITIVE.

The EURO (currency:EUR) has eased against Sterling so far today, sending the GBP EUR exchange rate up to as high as 1.2320 earlier on. Investors remain worried at what Thursday’s European Central Bank policy announcement might bring – an interest rate cut remains more likely than Quantitative Easing, with either or both damaging the euro. This morning’s disappointing eurozone manufacturing survey has added to the glum mood enveloping the single currency which is now forecast to trade on a NEGATIVE footing.

The US DOLLAR (currency:USD) badly needs this afternoon’s US manufacturing and construction data to beat estimates in order to re-assert itself again Sterling. Friday afternoon’s lacklustre Michigan sentiment index held back the Buck at the end of last week, but in spite of this the GBP USD exchange rate remains well below the multi-year high which it struck just a few weeks ago. Analysts now expect the Greenback to trade with a NEUTRAL TO POSITIVE bias moving forward and the current GBP USD exchange rate stands at 1.6760.

The AUSTRALIAN DOLLAR (currency:AUD) has endured a poor start to the week following the overnight publication of a disappointing set of domestic building approval figures. The numbers limit the leeway which the Reserve Bank of Australia has in the near-term regarding an interest rate hike. Tonight’s Australian retail sales data represent the next risk event of note for the Aussie; in the meantime, the Australian tender is forecast to trade on a NEUTRAL TO NEGATIVE footing. The current GBP AUD exchange rate stands at 1.8120.

Key Pound Sterling exchange rates are as follows:
- The Pound Sterling to Australian Dollar exchange rate is trading down -0.22% at 1.80887 GBP/AUD.
- The Pound Sterling to Canadian Dollar exchange rate is trading up +0.17% at 1.82857 GBP/CAD.
- The Pound Sterling to Euro exchange rate is trading down -0.14% at 1.22971 GBP/EUR.
- The Pound Sterling to New Zealand Dollar exchange rate is trading down -0.17% at 1.98011 GBP/NZD.
- The Pound Sterling to US Dollar exchange rate is trading up +0.05% at 1.67513 GBP/USD.

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