Dollar to Pound Rate Today: Weekly Exchange Rate Outlook, GBP Predictions & USD Forecasts

Modified: Tuesday, 4 November 2014 11:15 BST - Written by David Woodsmith

STORY LINK Dollar to Pound Rate Today: Weekly Exchange Rate Outlook, GBP Predictions & USD Forecasts

The US Dollar exchange rate (USD) had a mixed last week vs the Pound (GBP) as economic data releases painted a mixed picture regarding the strength of the world’s largest economy.

On Monday, the Dollar to pound exchange rate was softer and other major peers as investors turned their attention to the conclusion of the Federal Reserve’s two-day long policy meeting on Wednesday.

Monday’s softer than expected pending home sales data and fears over Ebola continue to put pressure on the currency.

The rest of the week continues after some key reference exchange rates:

The Pound to Dollar exchange rate (GBP/USD) converts at 1.59951.
The Euro to Dollar exchange rate today is 1.25241 EUR/USD.
The Canadian to US Dollar conversion rate is 0.88759 CAD/USD.
The Dollar to Euro exchange rate today is converting at 0.79846 USD/EUR.
The Dollar to Pound: USD/GBP exchange rate converts at 1 USD is 0.62519 GBP.

Tuesday saw the US currency maintain a three-day long decline against a number of peers as mixed domestic data releases caused economists to alter their outlooks for when the Federal Reserve will choose to raise interest rates.


The currency also remained under pressure from the release of disappointing durable goods data.

Best Dollar Exchange Rates in 3 1/2 Weeks

Midweek the USD advanced to its best exchange rate level in three-and-a-half week highs against a basket of major currencies, including the Euro and Pound Sterling/a>.

The Federal Reserve wound up its monthly quantitative easing programme and policy makers said that they are confident that the US economic recovery would continue. The Fed targets on unemployment and inflation are on target but they reiterated that interest rates would remain close to zero for a ‘considerable time’.

US Dollar Strengthen vs Euro and the British Pound

On Thursday, the USD strengthened broadly after Gross Domestic Product (GDP) data came in better than economist expectations.

The world’s largest economy expanded by 3.5% in the third quarter, a figure that was better than the 3% expansion forecast.

As the session progressed, the currency gave up some gains against the commodity based and emerging market currencies as risk sentiment improved.

The GDP data eased concerns that the global economy was slowing down.

As the week came to a close the USD advanced close to a seven year high against the Japanese Yen (JPY) after the Bank of Japan surprised the markets by introducing more monetary easing measures.

The US Dollar also continued to find support from the publication of Thursdays GDP data which showed that the US economy expanded more than forecast in the third quarter.

Against the Euro the US Dollar climbed to a 4-week high. The currency found more support from a better than forecast Chicago PMI and Consumer Sentiment reports.

The Pound to dollar exchange rate meanwhile extended its fourth straight month of declines after investors pushed back their forecasts for when the Bank of England will choose to raise interest rates.

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TAGS: American Dollar Forecasts Currency Predictions Daily Curre Forecasts