STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
POUND STERLING
This afternoon?s UK Public Sector Net Borrowing figure showed that the British government generated �2bn of new debt in July alone. It?s hardly a revelation that the UK?s public finances are not in good order, so the figure failed to weigh down Sterling. However, next week?s UK GDP Growth figures for quarter two are highly likely to bring market movement for the Pound. NEAR-TERM OUTLOOK ? NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6583
Stock markets have continued to tumble following yesterday?s major correction which saw London?s FTSE 100 suffered its ninth worst day in history. However, the Greenback has weakened on the day as investors express their concern at yesterday?s weak US employment, housing and manufacturing sector data. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1502
This morning?s German Producer Price Index shows that German factory gate prices rose at an accelerated pace in July. This leading indicator of German CPI inflation may encourage the ECB to consider raising interest rates sooner than had previously been factored-in by market participants. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5894
The Australian Dollar is continuing to weaken against the other majors as investors take their funds out of equities and move into the safe haven of bonds. With very little Australian data due for release next week, the Aussie remains at the mercy of swings in appetite for risk. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
SWISS FRANC ? The Pound Swiss Franc exchange rate (GBP/CHF) is 1.2991
The Franc has come under massive selling pressure in the markets since Switzerland?s central bank, the SNB, started intervening in the currency markets to weaken the Franc. This has taken the GBP CHF rate from 1.1467 to trade back above 1.3200 earlier in the week. However, the Franc has seen renewed support over the past 48 hours as investors buy into it again over fears that the Eurozone economy may buckle due to debt problems. NEAR-TERM OUTLOOK ? NEUTRAL.
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/20110819-691_forex-predictions-gbp-usd-eur-aud-chf.html
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