STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, TRY
TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predictions Euro Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Lira Forecasts Pound Sterling Forecasts Turkish Lira Forecasts
POUND STERLING
The release of the minutes of July?s Bank of England Monetary Policy Committee meeting has caused selling pressure on the Pound. The minutes predicted a softening in UK economic activity in the third quarter and went on to call for the committee to consider further UK quantitative easing if there were further signs of economic weakness. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6143
The Greenback has softened against both the Pound and the Euro in the early part of today?s European session. Asian and European stock markets have made a strong forward move over the last 24 hours thanks to comments by US President Barack Obama which suggest that real progress is being made in the US?s debt discussions. This pick-up in appetite for risk has seen investors shift out of the safe-haven of the US Dollar. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1361
Optimism regarding a positive outcome to tomorrow?s emergency Eurozone leaders? summit has seen the Euro trade up against the Pound and the Dollar on the day. Comments from French Finance Minister Francois Baroin calling for Europe?s leaders to send out a ?strong message? at the summit have helped, as have this morning?s higher-than-anticipated German Producer Price numbers. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5016
With global appetite for risk returning to the markets over the last 24 hours, the Australian Dollar has come roaring back with a vengeance. It now looks likely that US policy-makers will reach a consensus on how to tackle the US?s huge debt mountain sooner rather than later, ahead of their 2nd August deadline, which is likely to further assist the Aussie, bring the multi-year low of 1.4795 back into view for GBP AUD. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
NEW TURKISH LIRA ? The Pound New Turkish Lira exchange rate (GBP/TRY) is 2.6822
The Lira has slumped in the currency markets since the start of the month, with the GBP TRY rate moving upwards from 2.57 on 1st July to trade above 2.68 within the last 24 hours. This weakness has been driven by fears over the Eurozone and US debt situations, which have dampened demand for emerging market assets. NEAR-TERM OUTLOOK ? NEGATIVE.
For other live currency exchange rates and a currency converter see the currency news website.
Source: http://www.currencynews.co.uk/forecast/20110720-630_forex-predictions-gbp-usd-eur-aud-try.html
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