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Exchange Rate Forecast – Euro GBP US Dollar ( Andrew Bromley )
The Euro has strengthened today on more positive economic news for the single currency. Yesterday saw an improvement in the Eurozone unemployment figure, and todays improved German Retail Sales figures have helped the Euro further. Following what seems to have been bad news after bad news, the Euro was due a slight improvement. The improvement has been just that – slight! Many market analysts had predicted an improvement of several cents for the Euro, following the announcement of a Greek bailout. Once the bailout was confirmed to be not forthcoming, and to eventually be replaced by a deferment to repayment dates, the markets have adjusted and seem to be heading towards 1.40 rather than 1.30.
I personally feel that levels will stay between 1.3650 and 1.3775 for the short to medium term, prior to potential Pound weakness from the UK General Election. This years General Election is set to be the most open election for many years, with currently no clear party taking favour. If you have an exchange requirement between now and May, you may want to make contact before the market goes berserk!
US Dollar – The Week Ahead
The Greenback regained some of its strength towards the back end of last week, as following her meeting with US Congress, Head of the Fed Janet Yellen was eventually positive again about a US Interest Rate hike. Interest rates are a very goo indicator to the strength of an economy, so the positivity toward an increase subsequently strengthened USD again. I personally feel that we will see the 1.50 levels again as the Pound weakens in the build up to the UK General Election, so US Dollar buyers may wish to ready themselves. This week the US release their ‘Beige Book’ (an economic overview) and US Non Farm Payrolls are out Friday afternoon. This is followed by US Unemployment so the close of the week will be where the action is!
Those buying or selling with GBP should also be wary primarily of Thursdays UK Interest Rate decision. Although no change is expected, it will be very interesting (and potentially market moving) to see if there is any deviation from the Monetary Policy Committee on their thoughts…
If you do have a currency requirement, please feel free to get in contact on 01494 787 478 – please ensure that you ask for Andrew Bromley and quote this blog – that will ensure access to unbeatable exchange rates! Alternatively, drop me an email to [email protected] – I’ll be in touch with a response.
Source: http://www.poundsterlingforecast.com/2015/03/03/exchange-rate-forecast-euro-gbp-us-dollar-andrew-bromley/
