Forex Rates: EUR GBP AUD USD Exchange Rate Forecasts / Predictions 2014

June 4, 2014 - Written by John Cameron

STORY LINK Forex Rates: EUR GBP AUD USD Exchange Rate Forecasts / Predictions 2014

The EURO (currency:EUR) has shipped a little ground against the Pound so far today. Investors holding euro-denominated assets are bracing themselves for a raft of loosening measures from the European Central Bank tomorrow. If the ECB introduces negative deposit rates, cuts its key lending rate to a new record low and introduces a mildly watered-down version of Quantitative Easing, then expect the single currency to leak support. However, anything less than the introduction of the above measures and support for the single currency may shore-up. The outlook for the euro is NEUTRAL TO NEGATIVE and the current GBP EUR exchange rate stands at 1.2301.

The POUND STERLING (currency:GBP) has had an evens-stevens sort of day against the other sixteen most-actively traded global currencies so far. Early week losses for the UK tender were stemmed by the publication of a better than anticipated survey of the domestic services sector by Markit/CIPS this morning. Tomorrows Bank of England policy decision is unlikely to off the Pound any fresh direction, so the outlook for Sterling is now NEUTRAL.

Last night’s stronger than expected Aussie GDP growth figures have helped the AUSTRALIAN DOLLAR (currency:AUD) push ahead against the Pound Sterling so far today. The Reserve bank of Australia’s insistence that a first interest rate hike in Australia’s next tightening cycle is a long way off may anchor the Aussie moving forward, but as Todd Elmer of Citigroup stated earlier, ‘the Aussie is likely to benefit from a continued economic pickup.” The Australian unit is forecast to trade on a NEUTRAL TO POSITIVE footing in the near term and the current GBP AUD exchange rate stands at 1.8061.

The US DOLLAR (currency:USD) bullied Sterling during early trading, sending the GBP/USD exchange rate down to as low as 1.6694. Support for the Greenback was driven by yesterday afternoon’s relatively strong US Factory Orders data. However, this afternoon’s US trade balance numbers for April printed at a disappointing level, causing the Buck to reverse its early gains. The US tender is now forecast to trade on a NEUTRAL footing against the other major global currencies in the short term.

Updated Pound Sterling, Euro, Dollar & Australian Dollar Exchange Rates - 06/06/2014

The Pound Sterling to Australian Dollar exchange rate is trading down -0.16% at 1.80231 GBP/AUD.
The Pound Sterling to Euro exchange rate is trading down -0.01% at 1.23050 GBP/EUR.
The Pound Sterling to US Dollar exchange rate is trading up +0.42% at 1.68092 GBP/USD.
The Euro to Australian Dollar exchange rate is trading down -0.15% at 1.46469 EUR/AUD.
The Euro to US Dollar exchange rate is trading up +0.43% at 1.36605 EUR/USD.
The US Dollar to Australian Dollar exchange rate is trading down -0.58% at 1.07221 USD/AUD.
The US Dollar to Euro exchange rate is trading down -0.42% at 0.73204 USD/EUR.
The US Dollar to Pound Sterling exchange rate is trading down -0.42% at 0.59491 USD/GBP.

For more exchange rate forecasts or to lock in the best exchange rate for your money order overseas please contact our resident FX expert.

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 Australian Dollar Forecasts Currency Predi Forecasts