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Exchange rates outlook for today: Outlook for pound sterling, US dollar, euro, Japanese Yen and Australian dollar


Latest exchange rates

For reference, we look at today's exchange rates which shows a market that is in 'wait-and-see' mode:

  • The pound / dollar exchange rate is 0.18 pct in the blue at 1.6027.
  • The euro / dollar exchange rate is 0.1 pct higher at 1.3538.
  • The US dollar / Japanese yen is 0.2 pct higher at 9839.
  • The Australian dollar / US dollar is 0.07 pct higher at 0.9533.

NB: Please be aware that the above are spot market quotes to which your bank will affix their own discretionary spread. Please note, an independent FX provider will guarantee to undercut your bank's offer, thus delivering more currency. Please learn more here.

The below short-term exchange rate forecasts are issued by Emmanuel Ng at OCBC Bank.

Pound sterling to US dollar exchange rate outlook

GBP-USD The GBP-USD continued to be repelled by the 1.6000 ceiling on Tuesday despite slightly warmer than expected UK inflation
numbers and amid broad dollar volatility. For today, apart from US headlines, look also to UK labor market numbers today with supports expected towards 1.5940 and then 1.5900.

Euro dollar outlook

The latest German ZEW proved mixed but attention may still be largely centered on US fiscal developments with the pair looking to test the 1.3500 floor in the near term. A 1.3450-1.3600 range may prevail as investors continue to look towards the US fiscal landscape.
bank beating exchange rate

US dollar to Japanese Yen rate outlook

The USD-JPY has remained supported above 98.00 in the past few sessions with the US fiscal concerns not managing to infect broader
global markets and with investors still hopeful for a eleventh-hour deal. The situation could still swing both ways in the near term and the pair may remain anchored near its 55-day MA (98.32) within a 98.00-99.00 band pending further cues.

Australian dollar vs US dollar outlook

The RBA meeting minuets released on Tuesday showed little inclination on the central bank’s part to lean towards further interest rate cuts and remained largely neutral in its stance. With investor sentiment no derailed thus far by the US fiscal uncertainty, the pair may attempt to mull around in a 0.9450-0.9550 range in the interim.

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