Foreign Exchange Rate Forecasts Today For Pound Sterling (GBP) to Euro (EUR) and US Dollar (USD)

October 9, 2014 - Written by John Cameron

STORY LINK Foreign Exchange Rate Forecasts Today For Pound Sterling (GBP) to Euro (EUR) and US Dollar (USD)

Read our leading analyst’s forecast for the future trading performance of the Pound Sterling (currency:GBP) versus the US Dollar (currency:USD) and the euro (currency:EUR) below.

Pound Sterling Rate: GBP Puts In Even Performance

The POUND STERLING (currency:GBP) has traded within a tight range against nearly all of the other sixteen most-actively traded global currencies on the day today. The Bank of England surprised no-one by announcing that it will be keeping its key interest rate at its current level of 0.50% earlier. However, British Chancellor of the Exchequer George Osborne’s comments earlier warning the markets that the UK remains heavily exposed to a renew slowdown in the eurozone economy have limited any gains for the Pound on the day. The forecast for the Pound Sterling remains NEUTRAL TO POSITIVE.

Euro Rate Faces Continued Headwinds On ECB Policy Stance

The EURO (currency:EUR) was hit hard earlier on today when the latest official data revealed the largest monthly dip in the level of German exports for five years. The single currency’s fortunes continue to be anchored by predictions that the European Central Bank will be introducing full-on Quantitative Easing before the year is out. In the meantime, the next risk event of note comes with tomorrow morning’s announcement from the European Central Bank of the level of uptake for its Long Term Re-financing Operations. A low showing would hurt the euro further; in the meantime, the single currency is expected to perform on a NEGATIVE footing. The current GBPP EUR exchange rate stands at 1.2721.

Support For The US Dollar Weakens On Fed Comments

The US DOLLAR (currency:USD) floundered during early trading today as investors shifted out of Greenback-denominated assets thanks to concerns over last night’s Federal Reserve minutes. The suggestion that American policymakers view their local tender as overvalued have hit the Buck hard, with economists suggesting that the Fed may now attempt to talk down its relative value. Tomorrow’s Monthly Budget Statement is likely to alter the relative value of the Greenback. In the meantime, we still expect the US Tender to trade with a NEUTRAL TO POSITIVE bias.

Latest Pound Sterling Exchange Rates Today

The Pound to Australian Dollar exchange rate converts at 1 GBP is 1.85082 AUD.
The Pound to Canadian Dollar exchange rate today is converting at 1.80040 GBP/CAD.
The Pound to Swiss Franc exchange rate today is converting at 1.53839 GBP/CHF.
The Pound to Czech Koruna conversion rate is 35.04642 GBP/CZK.
The Pound to Euro conversion rate is 1.27290 GBP/EUR.
The Pound to Norwegian Krone conversion rate is 10.46579 GBP/NOK.
The Pound to New Zealand Dollar conversion rate is 2.05710 GBP/NZD.
The Pound to Swedish Krona conversion rate is 11.62988 GBP/SEK.
The Pound to Turkish Lira exchange rate converts at 1 GBP is 3.67825 TRY.
The Pound to US Dollar conversion rate is 1.60756 GBP/USD.
The Pound to Rand exchange rate is 1 GBP equals 17.87383 ZAR.

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TAGS: American Dollar Forecasts Currency Predictions Euro Forecasts Euro Forecasts