Exchange Rate Forecasts

Pound Sterling is set to remain vulnerable against the Euro over the coming days and a test of the solid support zone at 1.15 could well come into play in a week devoid of data and events on the calendar for either the Eurozone or UK.

The Australian Dollar's rebound against the Euro and British Pound can be sustained over the coming months and a rally against the U.S. Dollar could even shape up, according to new research.

Strategists at Morgan Stanley say they are 'long' on the Euro to Pound exchange rate (EUR/GBP) and are ultimately looking for the pair to break above its summer range as the Euro outperforms its British peer into year-end.

Rabobank has slashed its forecasts for the Euro to Dollar exchange rate (EURUSD) amidst mounting pressures on the European economy which should mean the Eurozone falls into recession ahead of the U.S.

The Euro could be set to bounce against the Dollar and rise over the coming weeks, however, those wanting a strong Euro should be agile as the rally is expected to be short-term in nature.

The currency research and strategy team at Goldman Sachs have slashed their forecasts for the Pound as they announced they have "officially shifted back to Sterling bears".

GBPCAD has entered a downtrend that can be expected to advance over the coming weeks, but the next five days could see some consolidation as the daily chart is screaming of oversold conditions.

GBPNZD can consolidate following a period of losses that have left it deeply oversold.

GBPAUD looks set to consolidate after the recent selloff left the pair at oversold levels, particularly if renewed fears concerning Chinese property stocks persist.

The Euro to Dollar exchange rate remains vulnerable to further losses and looks set to take another step towards the 1.05 level over the coming days, although Eurozone inflation on Friday could offer some relief.

The British Pound has now been subjected to 11 weeks of relentless pressure against the Dollar and there is little to suggest the selloff is about to end with most analysts saying 1.20 will be targetted over the coming weeks, although near-term some stabilisation can be expected.

The British Pound has lost value against all its G10 peers over the past month with losses accelerating in the previous week, but our five-day forecast suggests some of those losses can be unwound.

The Pound to Canadian Dollar exchange rate (GBPCAD) looks set for further declines according to a new analysis from Canadian bank Scotiabank, although short-term indicators suggest the pair might be reaching oversold conditions.

The New Zealand Dollar faces a "longer and tougher fight" according to the most recent analysis of the currency from the global banking giant HSBC.

"Is our EUR/USD target of 1.05 too optimistic?" asks Meera Chandan, FX Strategist at JPMorgan in a recent currency market update.

The Pound to Australian Dollar will unlikely attain the round figure of 2.0 and can fall over the remainder of 2023, according to a new analysis from Bank of America (BofA).

Despite a month of selling, the British Pound is unlikely to experience significant weakness going forward according to new research from one of Europe's most prominent investment and commercial banking providers.

GBPCAD is about to break the 200-day moving average, opening the door to a determined downtrend.

The British Pound continues to undergo a corrective pullback against the New Zealand Dollar that can extend further over the coming days, although Thursday's Bank of England decision and some important data releases out of New Zealand will offer two-way volatility.

GBPAUD in a short-term downtrend, but look for support at 100-day MA.