Exchange Rate Forecasts: Today's outlook for British pound, US dollar, Euro, Aus Dollar and Japanese Yen
Latest exchange rates:
- The pound to US dollar exchange rate (GBP/USD) is 0.13 pct higher at 1.6307.
- The Euro to US dollar exchange rate (EUR/USD) is 0.14 pct higher at 1.3598.
- The Australian dollar to US dollar (AUD/USD) is 0.74 pct higher at 0.9146.
- The US dollar to Japanese Yen exchange rate (USD/JPY) is 0.03 pct higher at 10219.
Please note that all quotes here are taken from the inter-bank markets. Your bank will levy a discretionary spread when delivering you forex. However, an independent currency specialist will seek to undercut your bank's offer, thus delivering up to 5% more FX. Please learn more here.
Pound dollar exchange rate forecast
OCBC Bank:
"After initial unsteadiness, investors took heart from the UK GDP numbers on Wednesday which showed strength across household consumption, government spending and investment.
"The GBP-USD climbed further and we now turn more constructive towards the pair in the near term with 1.6350 the next resistance and support seen on dips to 1.6260."
UBS:
"There is an important resistance at 1.6260, a break through which would be
positive as it would indicate more upside to the critical resistance at 1.6381. Support is at 1.6134 ahead of 1.6060."
Euro dollar exchange rate forecast
OCBC Bank:
"Expect the EUR-USD to remain neutral to supported as despite the updraft from the GBP, dovish ECB rhetoric may also continue to place a damper on excessive upside against the USD.
"Look for initial support on dips around the 55-day MA (1.3548) while key resistance is expected on approach of 1.3600 ahead of the EZ inflation number tomorrow."
UBS:
"The pair extended its recovery and is approaching strong resistance at 1.3627. A close above which would be positive, opening the way to the next major 1.3832. Support is at 1.3490."
Dollar Yen exchange rate forecast
OCBC Bank:
"Slightly firmer US Treasury yields lifted the USD-JPY yet higher amid a positive risk appetite environment and continued dovish comments from the BOJ’s Shirai this morning may keep the JPY broadly under water.
"In the interim, USD-JPY may continue to mull the 102.00 threshold with the US Thanksgiving holiday today also likely to keep market convictions low. Any consolidation meanwhile may find support towards 101.77.
UBS:
"As bullish conditions persist, there’s scope for further upside in the near-term to test the resistance at 103.74 and then 105.75. Support is at 100.28."
Australian Dollar to US Dollar exchange rate forecast
OCBC Bank:
"Early this morning, a significant upside surprise in the 3Q private capital expenditure reading blipped the AUD-USD higher although investors may remain broadly skittish towards cyclical currencies.
"The tone going ahead is there expected to remain top heavy and a violation of 0.9100 may see the psychological 0.9000 level beckon."
UBS:
"With the MACD below its zero line and momentum falling, there’s scope for extension of the downtrend to the major support at 0.8848. Resistance is at 0.9204."