Foreign Currency Exchange Rate Predictions for GBP, Euro, Swiss Franc, US Dollar: Greek Drama Continues

June 19, 2015 - Written by John Cameron

STORY LINK Foreign Currency Exchange Rate Predictions for GBP, Euro, Swiss Franc, US Dollar: Greek Drama Continues

Newsflash for GBP, EUR, CHF, USD Exchange Rates

At the close of the week the Pound Sterling to Euro (GBP/EUR) exchange rate was trending above 1.40, the GBP/USD currency pair had returned to trading in the region of 1.58 and the GBP/CHF exchange rate failed to recoup earlier losses. All in all though it's been a good week for the Pound, with the British asset preparing to enter the weekend in a broadly stronger position.

Earlier...

Pound Sterling (GBP) Exchange Rate Outlook Neutral-Positive Today

The POUND STERLING (currency:GBP) posted decent gains against most of the other sixteen most actively traded global currencies, with the notable exception of the high-yielding Commodity Dollars, during yesterday’s session in the currency market. The UK unit was propped up by a stronger than anticipated set of domestic Retail Sales figures for last month and there could be further gains for the Pound today if the latest public sector borrowing figures please. Sterling is forecast to trade on a NEUTRAL TO POSITIVE footing moving forward.

Greek Tragedy Could Undermine Demand for Euro, EUR/USD, EUR/GBP Fluctuations Forecast

The EURO (currency:EUR) held its own in the markets yesterday. The last meeting between the eurogroup of Finance Ministers and Greece’s policymakers lasted only 45 minutes, but the news that yesterday’s meeting had seen Greece’s Finance Minister ‘put forward’ some fresh ideas helped the shared currency on the day. Optimism that a debt deal for Greece can be arrived at, but the forecast for the single currency remains NEGATIVE. The GBP EUR exchange rate stands at 1.3880.

SNB Rate Decision Sees Swiss Franc Exchange Rate Gain, CHF/USD, CHF/GBP Advances

A slight tightening of monetary policy from the Swiss National Bank (SNB) helped the SWISS FRANC (currency:CHF) on the day yesterday. Although the SNB maintained its 3-month LIBOR Lower Target Range at -1.25%, an increase to its Upper Target Rate and Sight Deposit Rate are likely to prop up the Franc during coming sessions. The outlook for the Swiss tender is NEUTRAL TO POSITIVE and the GBP CHF exchange rate stands at 1.4598.

US Dollar (USD) Exchange Rate Fluctuates after US FOMC, Jobs Data

The US DOLLAR (currency:USD) floundered in the markets yesterday, with the Pound Sterling US Dollar exchange rate climbing to close to the 1.6000 GBP USD threshold. The Buck was held back by comments from Federal Reserve Chair Janet Yellen on Wednesday evening suggesting that a US interest rate hike was by no means nailed on for this year. A slightly firmer than expected set of weekly jobs numbers helped the Buck during American trading, but the outlook for the Greenback is now NEUTRAL TO NEGATIVE. The GBP USD exchange rate is changing hands at 1.5890 currently.

The GBP/USD exchange rate was trending in the region of 1.5860

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TAGS: Dollar Pound Forecasts Euro Forecasts Euro Pound Forecasts Pound Dollar Forecasts