Latest Currency News Continued - page 508

Currency Exchange Rate Forecasts and Predictions for Pound (GBP), Euro (EUR), US Dollar (USD) and Swiss Franc (CHF) The POUND STERLING (currency:GBP) has endured a day of drift during today’s session, giving up some of its recent gains against both the Buck and the euro. The Pound has come a long way in a relatively short space of time against both of its major trading partners, meaning that a technical retracement was...

Short Term Outlook For Euro to Dollar Exchange Rate: The euro (currency:EUR) has shown real resilience since the European Central Bank’s interest rate cuts and targeted Long Term Re-financing Operations (tLTRO) announcement of a month ago. Last Thursday’s confirmation From ECB President Mario Draghi that his Bank will be making up to €1 trillion available via LTRO acted as a statement of intent, forcing institutional...

At the start of last week the Pound to Dollar exchange rate (GBP/USD) was maintaining its position above the 1.70 level. As Monday’s session advanced Sterling softened against a number of its most traded peers after data showed that mortgage approvals in the UK fell to an 11-month low. Losses were restrained however as the currency continued to be supported by expectations that the Bank of England will be the first major Central...

On Tuesday the Pound to Australian Dollar (GBP/AUD) exchange rate and New Zealand Dollar (NZD) rate have seen losses of 0.49% and 0.75% respectively as the commodity dollars benefit from a weakened Sterling. The British currency softened versus a majority of the global forex rates as worse than forecast UK Industrial Production data weighed. At the start of the week, The Australian Dollar (AUD) exchange rate remained above the...

The Euro (EUR) exchange rate managed to shrug off weaker than expected German retail sales data at the start of Monday’s session but held steady after a report showed that the Eurozone’s annual rate of inflation remained unchanged at its lowest level in more than four years as bank lending to businesses and households dropped. The Pound Euro exchange rate was softer after the inflation data but Sterling was able to hold its...

The British Pound to South African Rand (GBP/ZAR) exchange rate spent most of the week higher as the South African currency was weighed upon by concerns over strike action taking place in the nation’s engineering and metal working sectors. The strike action began on July 1st after 220,000 metalworkers from NUMSA downed tools in a pay dispute heightening investor worries that the unrest ridden economy will see a repeat of the...

The European Central Bank announced a raft of policy-loosening announcements four weeks ago and the knee-jerk response from investors saw the single currency plunge against the US Dollar (currency:USD), sending EUR/USD briefly down to a 4-month low of 1.3503 on 5th June. However, EUR/USD rapidly rejected this significant low and was trading at close to the 1.37 level the next day. The euro (currency:EUR) showed its resilience...

Latest Forecasts - Pound Sterling to Euro, US Dollar and Australian Dollar Exchange Rates: Yesterday’s session in the global currency markets delivered several key developments which have the potential to trigger significant price action for the leading global currency pairs during coming weeks. The EURO (currency:EUR) remains under heavy selling pressure following the assertion from European Central Bank President Mario...

As forecasts predicted, the Euro exchange rate came under yet more pressure today, seeing losses against the Pound Sterling and US Dollar after the latest ECB event. The ECB Chief once again made use of forward guidance in his post-announcement press conference, confirming that his Bank will keep its key lending rate at its current ultra-low levels, ‘for an extended period of time’. Draghi went on to give an idea on the...

The Euro to Dollar (EUR/USD) Exchange Rate fell today to its lowest level in a month after European Central Bank President Mario Draghi was regarded as more dovish than expected and as US jobs data smashed economist expectations. Early in Thursday’s session the Euro was softened against several of its major peers including the US Dollar as data showed that business activity in the Eurozone expanded by its slowest pace in six...