Currency Outlook and Forecasts: Euro, Pound Sterling, US Dollar and Japanese Yen from OCBC Bank

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Outlook for the Pound to US Dollar Exchange Rate:

"GBP-USD lifted above 1.5750 in line with the broad dollar tone and with supportive house price data and look towards labor market numbers today fro further domestic cues.

"The pair may remain supported in the current environment but 1.5800 may prove pivotal, given that this essentially borders the top-end of the year-to-date range for cable. Meanwhile, support is expected around the 200-day MA (1.5491)."

Outlook for the Euro Dollar Exchange Rate:

Despite background Italian political uncertainty, the EUR- USD edged higher in line with the majors on Tuesday and the pair may look towards 1.3300 and then 1.3315 if the broad dollar remains on the defensive.

Downside support is expected towards the 55-day MA (1.3198). Elsewhere, we remain in favour of a heavy EUR-GBP, with the cross still contemplating the floorboards at 0.8400.

Outlook for the Dollar Yen Exchange Rate:  

Buoyant JPY crosses on the back of sanguine investor sentiment may continue to keep the USD- JPY tilted higher. Expect an initial sticking point towards the 100.90 if the century mark is breached successfully while support is expected on dips towards 99.50.

Outlook for the Australian Dollar / US Dollar Exchange Rate:

The AUD-USD has benefited from the friendly economic headlines out of China as well as Syrian tensions coming off the boil (for now) and if the 0.9320 area is breached convincingly, expect a test towards 0.9400.