Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
POUND STERLING
This mornings quarterly and annualised UK GDP figures for quarter 3 beat analysts expectations, providing a boost for the Pound. However, this was partly offset by a severely disappointing PMI Manufacturing survey, which was released at the same time. Overall it was largely positive day for Sterling. NEAR -TERM OUTLOOK NEUTRAL TO POSITIVE.
US DOLLAR The Pound Dollar exchange rate (GBP/USD) is 1.5956
The Greenback has hoovered up a significant amount of safe haven support on the day, as global stock markets and in particular European indices, suffered losses thanks to investor jitters regarding the Eurozone debt crisis. The risk-off environment is likely to last for a few sessions at least, raising the possibility of a return to the low 1.50s for the GBP USD rate. NEAR-TERM OUTLOOK NEUTRAL TO POSITIVE.
EURO The Pound Euro exchange rate (GBP/EUR) is 1.1653
For the second session in succession, the Euro has suffered heavy losses in the currency markets, sending the EUR USD rate lower by over 1%. Investors





