September 11, 2015 - Written by John Cameron
STORY LINK FX Outlook for British Pound Sterling vs EUR USD NZD Conversion Rate
Pound Sterling Conversion Rate Advances after BoE Minutes - GBP Higher against EUR, USD
The POUND STERLING (currency : GBP) was boosted by yesterday’s Bank of England monetary policy announcement. The UK central bank opted to maintain its key lending rate at its current record low, but its suggestion that the recent market turmoil in China will not affect the UK’s monetary policy path will help Sterling moving forward.
The British tender is forecast to trade on a NEUTRAL TO POSITIVE footing in the short to medium term.
Euro Exchange Rate Forecast: EUR Resilient After Eurozone GDP
The EURO (currency : EUR) continued to hold its own against the Pound Sterling yesterday, in spite of the Bank of England’s assertion that UK interest rates may be on their way higher sooner rather than later. The shared currency continues to bask in the reflected glory of Tuesday’s better than anticipated whole of eurozone Gross Domestic Product data which strongly suggested that the European Central Bank’s Quantitative Easing programme is beginning to benefit mainland Europe’s economy.
The Pound Euro exchange rate stands at 1.3730 and the outlook for the single currency is NEUTRAL TO NEGATIVE.
Forex ALERT: US Dollar to Pound, Euro Exchange Rate Volatility Forecast with FOMC Meeting Looming
The next few days are forecast to prove seminal for the US DOLLAR (currency : USD). This afternoon’s Michigan Confidence Survey will provide investors with a steer on the likelihood of a tightening of US monetary policy next week. A print of above the consensus forecast of a 91.2 showing would stoke market participants’ expectations regarding an interest rate increase from the Fed in six days time. Anything less and the Buck is likely to suffer.
The outlook for the Greenback is NEUTARL and the GBP USD exchange rate sits at 1.5420.
GBP-NZD Close to Five-Year Best Conversion Rate on Dovish RBNZ
Things appear grim for the down-at-heel NEW ZEALAND DOLLAR (currency : NZD) following the midweek interest rate cut from the Reserve Bank of New Zealand (RBNZ). The Kiwi central bank’s suggestion that further rate cuts may follow will hurt the NZ unit moving forward, especially if the economic newsflow from China continues to disappoint. The outlook for the Kiwi is NEGATIVE and the GBP NZD exchange rate stands at 2.4440.
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TAGS: Daily Currency Updates Pound New Zealand Dollar Forecasts Forecasts