Exchange Rate Forecasts & Predictions: Pound Sterling (GBP), Euro (EUR), Dollar (USD) & Swiss Franc (CHF)

Currency Exchange Rate Forecasts and Predictions for Pound (GBP), Euro (EUR), US Dollar (USD) and Swiss Franc (CHF) The POUND STERLING (currency:GBP) has endured a day of drift during today’s session, giving up some of its recent gains against both the Buck and the euro.

The Pound has come a long way in a relatively short space of time against both of its major trading partners, meaning that a technical retracement was probably due. UK Industrial and Manufacturing Production figures, due for publication tomorrow morning, have proved to be market-moving for Sterling in recent weeks.

In the meantime, the Pound Sterling forecast is to trade with a NEUTRAL TO POSITIVE bias.

The EURO (currency:EUR) clawed back a little of its recent lost ground against Sterling today, sending the Pound euro exchange rate down to as low as 1.2579 earlier on.

Renewed support for the single currency was driven by this morning’s stronger than expected whole of eurozone Sentix Confidence index which significantly bettered expectations.

A decent set of German trade figures tomorrow morning could see the euro strengthen further against the Pound.

The Euro rate forecast is now NEUTRAL and the GBP/EUR exchange rate stands at 1.2592.

The US DOLLAR (currency:USD) has posted a small gain against most of the other major global currencies so far today.

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The move was driven by investors’ interest rate expectations, with futures markets now pricing-in a tightening of policy from the Federal Reserve sooner rather than later.

It appears that the Buck is slowly benefitting from Thursday’s US June jobs data which revealed that over 200,000 new positions had been generated in the American economy for the fifth month on the trot.

The Greenback is expected to trade on a NEUTRAL 6O POSITIVE footing moving forward and GBP/USD stands at 1.7131.

The SWISS FRANC (currency:CHF) has climbed against Sterling today following the publication of official data showing that the overall level of joblessness in Switzerland had dropped to 2.9% last month.

Tomorrow morning’s session could also prove to be market-moving for the Franc - a strong showing from the May retail sales number and a higher than anticipated print from last month’s domestic CPI inflation data could send the GBP CHF even lower in the short-term.

The outlook for the Franc is now NEUTRAL TO POSITIVE and the GBP CHF exchange rate stands at 1.5304.

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