Pound Sterling Foreign Currency Exchange Rate Outlook Versus EUR USD CHF: British Pound Gains on Surprise UK Retail Sales Growth

June 17, 2015 - Written by John Cameron

STORY LINK Pound Sterling Foreign Currency Exchange Rate Outlook Versus EUR USD CHF: British Pound Gains on Surprise UK Retail Sales Growth

GBP Higher against EUR, USD, CHF as UK Retail Sales Climb

An unforeseen increase in UK Consumer Spending in May helped the Pound advance on peers like the Euro, US Dollar and Swiss Franc on Thursday. Although sales growth of 0.2% month-on-month is hardly spectacular, it was at least better than the -0.2% deceleration anticipated by economists. Sterling also continues to ride the wave of improved sentiment initiated by yesterday's impressive UK wage data.

Earlier...

UK Inflation Data Pushes Pound Sterling (GBP) Exchange Rate Higher against Euro (EUR), US Dollar (USD), Swiss Franc (CHF)

Yesterday’s data showing that the UK economy has exited deflation helped the POUND STERLING (currency:GBP) on the day. However, drilling down into the figures, analysts noted that the annualised Core Consumer Price Index numbers showed at below expectations, suggesting that the domestic economy is struggling to shake off falling prices. The outlook for the UK unit is NEUTRAL.

GBP to EUR Exchange Rate Hits Best Level, Euro Outlook Negative on Greek Concerns

The EURO (currency:EUR) endured another horror session yesterday, sending the Pound Sterling euro exchange rate up through the 1.3900 threshold for the first time since 5th June. Greek Prime Minister Alexis Tsipras’ assertion that the International Monetary Fund has ‘criminal responsibility’ for Greece’s economic woes is unlikely to help the shared currency moving forward. Analysts forecast that the single currency will trade on a NEGATIVE footing in the short term and the GBP EUR exchange rate stands at 1.3910.

Exchange Rate Movement Predicted for GBP to USD Exchange Rate, US Interest Rate Announcement Ahead

The US DOLLAR (currency:USD) is forecast to experience significant price action against the other major global currencies in the next few hours as investors eye the latest US Federal Reserve monetary policy announcement. No change in interest rates is the expected outcome from the Fed meeting, but the US central bank may well suggest that a rate hike is close at hand. Such a result will see the Buck trade on a NEUTRAL TO POSITIVE bias moving forward; the GBP USD exchange rate stands at 1.5632.

AUD, EUR, USD, GBP Outperform Swiss Franc (CHF) Exchange Rate Today

The SWISS FRANC (currency:CHF) was outperformed by almost all of the other global tenders during yesterday’s session. The Franc has increasingly regained its safe haven status over recent months, so the movement on the day suggests that despite the ongoing gyrations between Greece and her creditors, investors believe that a deal will be reached. Most economists now forecast that the Swiss unit will trade on a NEUTRAL TO NEGATIVE footing moving forward.

The GBP CHF exchange rate stands at 1.4595.

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TAGS: Dollar Pound Forecasts Euro Forecasts Swiss Franc Forecasts