STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
POUND STERLING
The Bank of England?s Quarterly Inflation Report, released this morning, has caused further downside for Sterling following yesterday?s disappointing Industrial Production figures. The Report downgraded the Bank?s predictions for UK growth and stated that CPI inflation was expected to fall below the government?s 2% target in the medium-term. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6245
The Dollar has traded in a tight range against the other majors on the day, as investors factor-in the Federal Reserve?s assertion last night which confirmed that US interest rates would remain at ultra-low levels until at least 2013. The Greenback appears to be holding its own in the markets in spite of S&P?s US debt downgrade of last Friday. NEAR-TERM OUTLOOK ? NEUTRAL.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1323
German CPI Inflation data printed as per expectations earlier today and with little Eurozone data of note due for release for the remainder of the week, the Euro is likely to trade sideways against the other majors until next week. The only variable that could change this would be renewed fears over the sovereign debt situation in Italy, Spain and Portugal. NEAR-TERM OUTLOOK ? NEUTRAL.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5750
Over the last 24 hours, the Australian Dollar has recovered much of the ground that it lost in the early part of the week. Support for the Aussie has shored-up as appetite for risk floods back into global markets and panic levels recede. However, downside pressure on the Australian Dollar could quickly return if fears over global sovereign debts once again rear up, or if data releases in major economies point to an economic slowdown. NEAR-TERM OUTLOOK ? NEUTRAL.
SWISS FRANC ? The Pound Swiss Franc exchange rate (GBP/CHF) is 1.1801
The Swiss Franc saw massive support in the markets during yesterday afternoon?s session, taking the GBP CHF rate to a new record low of 1.1467. This move was driven by panic in global equities markets, which drove investors to seek out safe-haven assets. Support for the Franc has eased today with the Swiss central bank announcing that it is, ?significantly increasing supply of liquidity to the market,? in order to weaken the Franc. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predictions Euro Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts Pound Swiss Franc Forecasts Swiss Franc Forecasts
Source: http://www.currencynews.co.uk/forecast/20110810-672_forex-predictions-gbp-usd-eur-aud-chf.html
No comments:
Post a Comment