Pound to Euro (GBP EUR) Exchange Rate Forecasts & Dollar (USD) & Canadian Dollar (CAD) Predictions 2014

June 9, 2014 - Written by John Cameron

STORY LINK Pound to Euro (GBP EUR) Exchange Rate Forecasts & Dollar (USD) & Canadian Dollar (CAD) Predictions 2014

The Pound Sterling exchange rate (currency:GBP) found support when EEF, a UK-based manufacturing industry body, published a report earlier today which found that levels of optimism in the British manufacturing sector are at their highest level since the financial crisis broke in 2007. If tomorrow’s UK manufacturing and industrial production data backs up this finding, then Sterling could strengthen further. However, Wednesday’s UK employment market data will need to provide grounds for encouragement if the British unit is to cling on to its gains. The Pound Sterling forecast to trade on a NEUTRAL TO NEGATIVE footing moving forward.

Today's Sterling exchange rates, as of 21:00 GMT 11/06/2014 show us:
The Pound Euro exchange rate is +0.33pct higher at 1.24111 GBP/EUR, the Pound US Dollar exchange rate is +0.24pct higher at 1.67890 GBP/USD and the Pound Australian Dollar exchange rate is +0.09pct higher at 1.78909 GBP/AUD.

Best Pound to Euro exchange rate in 18 months today

The EURO (currency:EUR) has endured another poor day in the market today, causing the Pound Sterling euro exchange rate to creep up to as high as 1.2357 GBP/EUR earlier. A disappointing showing from this morning’s eurozone Sentix confidence survey held back the single currency on the day and investor’s ongoing concerns at the European Central Bank’s efforts to weaken the single currency continue to weigh it down. The Euro rate forecast is now NEGATIVE and tomorrow morning’s Italian GDP figures are unlikely to alter this.

The US DOLLAR (currency:USD) has largely traded on the level against the Pound so far today. Mildly encouraging US job creation numbers on Friday and the likelihood that the US Federal Reserve will continue tapering its controversial Quantitative Easing programme by $10bn per month until it finishes have helped stem the Greenback’s recent losses. Thursday’s domestic retail sales numbers could de-rail the Buck once more, but until then the Dollar forecast is NEUTRAL The current GPound Dollar exchange rate stands at 1.6788 GBP/USD.

A stronger than expected set of Canadian Housing starts data, published earlier today, has helped the CANADIAN DOLLAR (currency:CAD) push ahead against the Pound Sterling (GBP). CAD-holders are looking out for any positive property market figures to provide a reason for the Bank of Canada to hike its key interest rate, so this afternoon’s number came as a fillip. Thursday afternoon’s domestic house price data is the next key risk event for Loonie-watchers; in the meantime, the Canadian tender is expected to trade on a NEUTRAL TO POSITIVE footing.

Latest Pound / Euro Exchange Rates Today (Updated 11/06/2014)

The Euro to Australian Dollar exchange rate is trading down -0.24% at 1.44153 EUR/AUD.
The Euro to Canadian Dollar exchange rate is trading down -0.38% at 1.46997 EUR/CAD.
The Euro to Swiss Franc exchange rate is trading down -0.05% at 1.21743 EUR/CHF.
The Euro to Pound Sterling exchange rate is trading down -0.33% at 0.80573 EUR/GBP.
The Euro to New Zealand Dollar exchange rate is trading down -0.42% at 1.58105 EUR/NZD.
The Euro to US Dollar exchange rate is trading down -0.09% at 1.35274 EUR/USD.

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