Pound, Euro, Dollar and Australian Dollar Forecasts: Latest Exchange Rate Predictions for GBP EUR USD and AUD

December 4, 2014 - Written by John Cameron

STORY LINK Pound, Euro, Dollar and Australian Dollar Forecasts: Latest Exchange Rate Predictions for GBP EUR USD and AUD

Currency News UK presents the Pound Sterling (currency:GBP) exchange rate forecasts against the Euro (currency:EUR), US Dollar (currency:USD) and the Australian Dollar (currency:AUD)

The POUND STERLING (currency:GBP) enjoyed a stellar day on the currency markets yesterday, recording strong gains against nearly all of the other major currencies.

Better than expected services sector data and an increase to the British government’s official 2014 growth forecast helped the Pound. However, concerns persist that the UK’s national debt is only gradually reducing, meaning that the outlook for Sterling is only NEUTRAL TO POSITIVE.

The Pound to Australian Dollar exchange rate converts +0.07 per cent higher at 1 GBP is 1.87043 AUD.
The Pound to Canadian Dollar exchange rate converts +0.04 per cent higher at 1 GBP is 1.78409 CAD.
The Pound to Euro exchange rate today is converting -0.87 per cent lower at 1.26318 GBP/EUR.
The Pound to New Zealand Dollar exchange rate today is converting -0.39 per cent lower at 2.01690 GBP/NZD.
The Pound to US Dollar exchange rate converts -0.06 per cent lower at 1 GBP is 1.56833 USD.

Euro Exchange rate Forecast: EUR Investors Sweat ECB Decision

The EURO (currency:EUR) struggled to hold its own during yesterday’s session. Investors steered clear of the single currency ahead of today’s European Central Bank (ECB) policy announcement, fearing that the euroland’s reserve bank may announce a further loosening of policy.

Market participants will get a steer on the state of shop sales across the eurozone ahead of the p.m. policy declaration, with the release of the Markit eurozone Retail PMI survey later this morning.

The single currency is forecast to trade with a POSITIVE bias moving forward and the GBP EUR exchange rate stands at 1.2745.

Dollar Exchange Rate Forecast: USD Remains Strong

The US DOLLAR (currency:USD) performed better than most other leading tenders against Sterling yesterday.

A far higher than forecast showing from yesterday afternoon’s ISM Non-Manufacturing Composite survey suggested that the combined tertiary industries in the States are performing well and the Buck gained as a consequence.

Look for this afternoon’s weekly jobs data in the US to provide the Greenback with renewed direction. Analysts still expect the Dollar to trade on a NEUTRAL TO POSITIVE footing moving forward. The GBP USD exchange rate stands at 1.5685.

Australian Dollar (AUD) Exchange Rate Forecast to Weaken

The AUSTRALIAN DOLLAR (currency:AUD) leaked support during yesterday’s session after the publication of a far worse than expected set of domestic Q3 GDP data during Asian trading.

However, any suggestion that it is about to further loosen its already ultra-loose monetary policy from the European Central Bank later today could see the Aussie stage a concerted comeback.

However, the continued easing of commodities prices is unhelpful to the Australian tender which is forecast to perform with a NEUTRAL TO NEGATIVE bias moving forward. The current GBP AUD exchange rate stands at 1.8664.

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TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predi Forecasts