FX Exchange Rate Forecasts: Pound to Euro (GBP EUR), Sterling to Dollar (USD) & NZ Zealand Dollar (NZD)

June 19, 2014 - Written by John Cameron

STORY LINK FX Exchange Rate Forecasts: Pound to Euro (GBP EUR), Sterling to Dollar (USD) & NZ Zealand Dollar (NZD)

Here's the Currency News daily exchange rate forecasts and currency predictions for the Pound Sterling (GBP), Euro (EUR), US Dollar (USD) & New Zealand Dollar (NZD) The POUND STERLING (currency:GBP) pushed ahead against both the Dollar and the euro during yesterday’s trading session as investors continued to price-in a higher likelihood of an interest rate hike from the Bank of England this side of Christmas.

However, yesterday’s slightly disappointing UK retail sales figures have the potential to hold back the Pound in the short term. The Pound Sterling forecast is now NEUTRAL TO NEGATIVE.

Euro exchange rate forecast

The EURO (currency:EUR) once again gained against the US Dollar yesterday. The absence of any tier one data releases from the eurozone during yesterday’s session provided the single currency with some brief respite, however this afternoon’s euroland consumer confidence survey is likely to reveal that investor sentiment remains fragile in the region.

With the European Central Bank appearing determined to weaken the single currency, analysts now forecast that the euro is likely to perform with a NEGATIVE bias moving forward. The Pound Euro exchange rate stands at 1.2502.

UD Dollar exchange rate forecast

The US DOLLAR (currency:USD) slumped to its lowest level against the Pound since October 2008 during yesterday’s session.

The move up through its existing high of 1.7040 to touch a fresh 5 ½ year peak of 1.7052 was a significant move and further near-term losses for the Greenback now appear likely.

A disappointing set of weekly US jobs numbers held back the Buck yesterday and with no new economic statistics of note due out for the remainder of today, the Dollar is forecast to trade on a NEUTRAL TO NEGATIVE footing moving forward. The Pound Dollar exchange rate stands at 1.7048.

New Zealand Dollar exchange rate forecast

Wednesday night’s domestic Gross Domestic Product numbers showed a slightly lower than anticipated increase in New Zealand economic activity during the first three months of this year.

The development caused the recent improvement for the NEW ZEALAND DOLLAR (currency:NZD) to stall somewhat, but a decrease in the level of global geo-political risk may allow the Kiwi to strengthen once again before the weekend market shutdown. The outlook for the New Zealand tender is now NEUTRAL TO POSITIVE and Pound to NZ Dollar exchange rate trades at 1.9545.

Pound Sterling rates as of market close, 21/06/2014

Yesterday's exchange rates saw the Pound to Australian Dollar exchange rate close at 1.81199, Pound to Canadian Dollar exchange rate close at 1.83072, Pound to Swiss Franc exchange rate close at 1.52291, Pound to Euro exchange rate close at 1.25111, Pound to New Zealand Dollar exchange rate close at 1.95698, Pound to Turkish Lira exchange rate close at 3.64236, Pound to US Dollar exchange rate close at 1.70151, and the Pound to South African Rand exchange rate close at 18.12971.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts