Pound Sterling Exchange Rates Today: GBP Conversion Rate Strengthens after 5-year High Net Mortgage Lending
Pound Sterling to Euro (GBP/EUR) Exchange Rate Forecast to Decline on Easing ECB Stimulus Concerns
The Pound Sterling to Euro (GBP/EUR) exchange rate softened by around -0.4% on Thursday afternoon.
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Despite the fact that the solitary British data publication failed to meet with the market consensus, the Pound advanced versus many of its currency rivals. BBA Loans for House Purchase was forecast to advance from 46315 to 47000, but the actual result only reached 46743. The Sterling appreciation can be linked to the fact that mortgage approvals still managed to hit a fresh 5-year high despite failing to increase in line with economists’ expectations.
The Pound Sterling to Euro (GBP/EUR) exchange rate is currently trending in the region of 1.3574.
Although German economic data produces a mixed-bag of results and German Consumer Confidence dropped by more than forecast, the single currency strengthened versus many of its peers. The appreciation can be linked to positive comments from European Central Bank (ECB) officials yesterday. Of particular significance was ECB President Mario Draghi’s speech when he stated that the central bank is not looking to expand monetary stimulus until more is known regarding the effectiveness of the current quantitative easing scheme.
The Pound Sterling to Euro (GBP/EUR) exchange rate was trending within the range of 1.3548 to 1.3657 during Thursday’s European session.
Pound Sterling to US Dollar (GBP/USD) Exchange Rate Forecast to Hold Steady ahead of US Durable Goods Orders
The Pound Sterling to US Dollar (GBP/USD) exchange rate was trending within a tight range on Thursday.
With a complete absence of further British economic data to provoke volatility, the GBP/USD exchange rate is likely to hold steady ahead of US Durable Goods Orders. Durables data holds a high economic weighting and is very likely to provoke significant changes for the North American asset. Although the Shanghai Composite Index ended the Asian session fractionally up, many fear that China’s economic struggles will continue for a long period. This has caused dampened demand for the US asset amid concerns that China’s slowdown will extend the delay for the Federal Reserve to hike the benchmark interest rate.
The Pound Sterling to US Dollar (GBP/USD) exchange rate is currently trending in the region of 1.5238, fluctuating between a low of 1.5231 and a high of 1.5285.
Pound Sterling to Australian Dollar (GBP/AUD) Exchange Rate Predicted to Advance on Damp Market Sentiment
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate strengthened by around 0.5% on Thursday afternoon.
With China’s Shanghai Composite Index hardly denting the drop from Wednesday’s disappointing Chinese Manufacturing data, market sentiment dampened considerably. This caused the Pound Sterling to Australian Dollar (GBP/AUD) exchange rate to rally amid soft demand for high-yielding assets. With a complete absence of Australian economic data to provoke changes, the GBP/AUD conversion rate is likely to hold gains for the remainder of Thursday’s European session.
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate is currently trending in the region of 2.1901, hitting a low of 2.1706 and reaching a high of 2.2009.