STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, JPY
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, JPY
POUND STERLING
The Pound has lost ground against most of the sixteen most actively-traded currencies so far during today?s session. The day started badly for Sterling with August?s Lloyds Business Barometer survey disappointing and things got worse when Net Consumer Credit data showed that UK credit expansion is slowing. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6301
The Greenback has made a roaring comeback on the markets today, gaining the best part of 1% against the Pound and the Euro by the middle of the European session. However, this afternoon?s Consumer Confidence data and FOMC Minutes could halt the Dollar?s recovery in its tracks. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1305
The Euro has struggled to maintain its momentum of the early part of the week, losing significant ground on the day against the Dollar. A poor reading on this morning?s Euro Business Climate indicator has not helped and apparent dissention between Eurozone policy-makers on how much they should ?listen to the markets? when forming policy on tackling sovereign debts has added to the downward pressure on the Euro. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5314
European share indices have continued to move forward on the day, as global investors rediscover their appetite for risk following the stock market wobble of the early part of the month. This has seen further support for the Aussie, sending the GBP AUD rate lower by over half a percentage point already today. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE .
JAPANESE YEN ? The Pound Japanese Yen exchange rate (GBP/JPY) is 125.05
The Yen has rallied on the day in spite of gains for global equities markets over the last 24 hours, a situation which would ordinarily cause the reserve currency to weaken. The forward move for the Yen has been driven by the confirmation by Japan?s Parliament that Yoshihiko Noda will take over as Prime Minister. The news has been well-received by the markets as Noda was known for his hard line on fiscal policy during his time as Finance Minister. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
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TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predictions Euro Forecasts Japanese Yen Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts Pound Yen Forecasts
Source: http://www.currencynews.co.uk/forecast/20110830-706_forex-predictions-gbp-usd-eur-aud-jpy.html
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